Financial terms of the transaction were not disclosed.
The club’s member-owners voted in December to sell the golf course and social club to the Century Golf partnership.
“For over a year, our board investigated numerous options and evaluated many potential companies to partner with. Our goal was to preserve the perpetuity of our cultural uniqueness and assure the long-term success of our club,” Denis Barry, president of the club’s board, said in a statement.
Founded in 1958, Las Posas Country Club spans 300 acres including an 18-hole golf course designed by architect Lawrence Hughes, seven tennis courts, a swimming pool, fitness center and a clubhouse comprising several indoor and outdoor dining and banquet rooms.
Barry said planned capital improvements to the club’s structures will continue as expected following the acquisition, but didn’t reveal details. He added the club will provide annual dues credits to existing members and will pause member assessments for the next few years.
Century Golf Partners owns and operates more than 45 U.S. golf courses, including the Citrus Club in La Quinta and Walt Disney World Golf in Orlando, Fla. Hankuk, a golf equipment distributor owned by industry veteran Shin Il Yoo, owns about 25 courses in the U.S. and Japan. The two formed a joint venture last February to acquire the PGA WEST Stadium Course, a set of six courses designed by Pete Dye.