LOS GATOS — The members of a prestigious Los Gatos golf course have teamed up to buy the country club in a property deal that assures the facility’s existence for numerous decades to come.
La Rinconada Country Club, nestled on hillsides near residential areas of Los Gatos, the community’s downtown, and the Netflix headquarters, is at the heart of the recent transaction, which was completed on May 25, according to Santa Clara County public records.
Acting through affiliate Clearview Golf Associates, the members of the club paid $18.9 million for the property, the county records show.
“This secures the future of the golf course,” said Andy Kimball, general manager of La Rinconada Country Club, which began golf operations in 1929.
The sellers were members of the Leider family, which for decades had leased La Rinconada to the club’s members.
In 1952, Sol Leider, a dentist, golfing enthusiast, and an ancestor of the Leider family, agreed to lease the country club to its members for 99 years as a way to rescue the facility from bankruptcy, which began struggling during World War 2.
Now, nearly 70 years after the leasing agreement began, and more than 90 years since the club was founded, the club members have completed a transaction that enables full ownership by the club’s members.
“There was an opportunity this year for the members to buy back the golf course,” Kimball said. “There was a strategic plan to buy the course at this time.”
The Leider family embraced the idea, according to Kimball.
“This is something that the Leider family wanted as well,” Kimball said.
Located at 14595 Clearview Drive in Los Gatos, the country club occupies about 125 acres. In addition to the 18-hole course, the club includes a restaurant, heated spa, swimming pool, gym, yoga studio, and bocce courts. The complex also hosts events.
“The clubhouse plays host to a wide variety of community events, including many charitable activities,” according to the country club’s website.