Coto de Caza Discloses Sale of Golf & Racquet Club : Development: Owner of Indian Wells and other major facilities won’t take over for at least five years under lease terms.

Coto de Caza Golf & Racquet Club was sold two weeks ago, for an undisclosed amount, to Dallas-based Club Corp. of America.

As part of the deal, the property was leased back to the original developer, Coto de Caza Ltd., which will manage the club for the next five to seven years.

Company spokesman Tom Martin said Coto de Caza had always planned to sell the 36-hole course, but the offer from Club Corp. came a little earlier than expected.

“It just seemed like a good opportunity,” Martin said. “They are the biggest operator of country clubs in the country, so they are a good buyer.”

For now, Coto de Caza will continue to manage the golf course, the 44,000-square-foot clubhouse, two swimming pools and tennis complex.

Martin said it will avoid any difficulties that could arise regarding future housing development around the course by continuing to manage the golf club. The company plans to build condominiums on some undeveloped parcels on the perimeter of the course.

Furthermore, Martin said the move was made to assure the 525 club members that the facilities will be maintained and managed as they always have.

After its lease expires, Coto de Caza plans to hand over the management of the course, its clubhouse, pools and tennis complex to Club Corp., which owns several golf courses in Southern California, including the Missions Hills Country Club in Rancho Mirage, the Desert Falls Country Club in Palm Desert and Indian Wells Country Club in Indian Wells.