Real Estate Transaction: Decathlon Athletic Club

Property: Decathlon Athletic Club, improved as a private social club that includes a 50-room motel, restaurant/bar facilities, and full athletic club with swimming pool and 6 tennis courts

Buyer: DAC Properties, LTP

Seller: Decathlon Athletic Club

Source: Buyer and Seller

Sale Date: December 28, 1995

Sale Price: $2,136,229 (includes FF&E)

Unit Price: $19.16/sq. ft.

Net Rentable Area: NA

Gross Building Area: 111,500 sq. ft., excluding the tennis bubble

Zoning: FD-1, Freeway Development District

Utilities: All available

Topography and Soil: Level, an underground trunk sewer line bisects north/south through the center of the property

Visibility and Access: Very good visibility and access

Age: 1968; additions in 1977, 1980-1981, and 1986-1987

Land Size: 388,566 sq.ft. (8.92 acres)

Remarks: The sale price at closing totaled $2,136,228.63. The purchase price included all real estate, personal property, as well as rights to any recovery of past property tax relief pending from a tax appeal initiated by the seller. As of this time, the personal property market value and quantification of anticipated property tax recoveries are not determined. The value of personal property and recovery of any past property taxes would have the effect of reducing the above purchase price.

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