Sports Club to Sell Spectrum Club Chain

Sports Club Co. agreed to sell its Spectrum Club fitness center chain in Southern California to Brentwood Associates for $49 million to focus on expanding its other line of fitness clubs. Los Angeles-based Sports Club, which operates health and fitness clubs in California, New York and Nevada, said it will open six Sports Club/LA centers in New York, Washington, Boston, San Francisco and Houston in the next two years. Two New York centers are expected to open early next year. Los Angeles-based investment group Brentwood Associates, which recently purchased a chain of eight fitness clubs in San Antonio, plans to combine the 10 Spectrum Clubs with its Texas operations under the Spectrum brand name. Sports Club also said it has entered into a sale and lease-back of its Spectrum Club-Thousand Oaks property for proceeds of $12 million. Sports Club shares rose 31 cents to close at $5.38 on the American Stock Exchange.