Garden club in Rancho Santa Fe Covenant Sold!

The Rancho Santa Fe Garden Club in The Covenant of Rancho Santa Fe at 17025 Avenida De Acacias, Rancho Santa Fe 92067, has been sold for $2,825,000.The buyer was Garden Club RSF LLC, with Bruce Kleege as the manager.  The club is an entity of Kleege Enterprises, 12625 High Bluff Drive, Suite 310, San Diego 92130. Weston Doyle is Kleege’s executive vice president and managing director.  The acquisition was financed with a loan of $2,012,500 from Regents Bank, a division of Grandpoint Bank, through Ben Price.  The seller of the property (assessor’s parcels 266-261-01 and 02) was Rancho Santa Fe Garden Club, a California nonprofit corporation, with Fred W. Wasserman as the co-president.
The 8,798-square-foot property includes an event center with offices and a retail shop. The club occupies 1.04 acres with 34 onsite parking spaces.The garden club will lease the premises for an original three years – which began on Jan. 1 — and a pair of two-year options ending Dec. 31, 2021. The rent will be a flat $2,000 per month.  Escrow was handled by Carla Bruchard, of Stewart Title, and the title was handled by Frank Green, also of Stewart Title.  The club will continue to operate as an event space hosting weddings, concerts, meetings and other events. The retail shop will continue to operate out of the basement.