KSL acquires US luxury health clubs and resorts

The private equity real estate firm has added a portfolio of upscale fitness and athletic centers in California to its portfolio of luxury resort properties.

Denver, Colorado-based KSL Capital Partners has acquired Western Athletic Clubs, the owner and operator of luxury private health, fitness, and athletic clubs and sports resorts on the West Coast.

WAC currently operates nine facilities in California in the San Francisco and San Diego metro areas.

The properties are located “in markets with strong barriers to entry and strong demographic trends,” KSL managing director Eric Resnick said in a statement. The acquisition also “fits well within our target business sectors…and complements our existing investment in ClubCorp, the largest owner and operator of golf, country and business clubs in the world.”
The WAC deal involves facilities in California including: The San Francisco Bay Club in San Francisco; the Bay Club/Bank of America Center in San Francisco; The Golden Gate Swim & Tennis Club in San Francisco; The Bay Club Marin in Corte Madera; The Courtside Club in Los Gatos; The Decathlon Club in Santa Clara; The Gym in Tiburon; The Pacific Athletic Club in Redwood Shores; and The Pacific Athletic Club in San Diego.

In addition to Western Athletic Clubs and ClubCorp, KSL also counts in its portfolio resort properties in the US such as the Barton Creek Resort & Spa in Austin, Texas, which features four championship golf courses and 300 guest rooms as well as more than 43,000 square feet of meeting space; The Homestead in Hot Springs, Virginia, totaling 485 rooms, three championship golf courses and 72,000 square feet of meeting space; and the Rancho Las Palmas Resort & Spa in Rancho Mirage, California, comprising 444 guest rooms, a 20,000-square-foot spa, three swimming pools and 41,000 square feet of meeting space. The properties are managed by KSL through its KSL Resorts division.