Singerman Real Estate, a Chicago-based investment firm, and its partner Meriwether Companies, an experienced club, hospitality and resort development firm, are pleased to announce that they have closed on the purchase of the almost 90-year old Beverly Hills Country Club. The new ownership group, in their first joint venture, will be investing more than $10 million into a renovation of the Club with major construction starting in 2016.
“The Beverly Hills Country Club is a historic, one-of-a-kind property that presented an excellent investment opportunity for us,” said Singerman Real Estate President Seth Singerman. “We are excited about the opportunity to enhance the membership experience through the property renovation, first-class personal service, and exceptional programming.”
Minor improvements will begin in the coming weeks and months and major projects including a complete renovation of the clubhouse, pool area and general landscaping will begin in early 2016. Additional details on the renovation, including the timeline, will be released in the next few months.
“The Beverly Hills Country Club has served the local community for almost 90 years and we are excited to help ensure it remains a place for Southern California families to gather and socialize for the next 90 years,” said Meriwether Companies Managing Partner Graham Culp. “We look forward to serving future generations of Southern California families.”
Los Angeles native and real estate investor Kris Thabit was the first to appreciate the potential that ownership of Beverly Hills Country Club could have and worked with both Singerman Real Estate and Meriwether Companies to bring the deal together.
“Beverly Hills Country Club is an irreplaceable asset that brings people together in meaningful way. We believe that by investing in it, we can help build on its legacy,” said Kris Thabit. “I couldn’t be more excited to be a part of the team that is going to return the property to its position as one of the top clubs in California.”
Founded in 1926, The Beverly Hills Country Club has enjoyed a long rich history of providing the highest quality facilities, services and dining to meet the needs of the community’s top business and social leaders and their families. The 34,000 square-foot clubhouse is situated on four beautifully landscaped acres. Among the Club’s many amenities are ten lighted championship tennis courts, dining and social facilities, a gym with personal fitness training programs and classes and a Junior Olympic heated swimming pool.
Singerman Real Estate is the majority owner of the Beverly Hills Country Club and Meriwether Companies, in conjunction with Kris Thabit, will be responsible for the day-to-day operations. For more information on Singerman Real Estate and Meriwether Companies, please visit http://www.singermanre.com/ and http://www.meriwetherco.com.
The Beverly Hills Country Club is located at 3084 Motor Ave in Los Angeles. For more information, including how to join, please visit http://www.beverlyhillscc.com/.
