Poway golf course development draws $2.2 m

POWAY, CA - The 125+/- acre property on Old Coach Road overlooking the Maderas Golf Club sold on Friday, April 16th for $2,214,960 - to the owners of the golf club.

After 20 minutes of bidding, the winning offer came Uri Feldman, representing Sunroad Asset Management, of LaJolla, which owns Maderas Golf Club, according to Craig King, president of J.P. King Auction Company, which managed the sale.

The auction - held at the golf club - attracted 22 registered bidders from California and Nevada, including the partner of the helicopter pilot who flew prospective bidders over the property Thursday.

Carlos Royal, one of the co-owners of the property, said he was pleased with the outcome of the sale and with the buyer.

"I'm delighted they got it. We got the perfect buyer for the property. They'll be in a great position to make the best use of the land," said Royal. He and co-owner Richard Blount had planned to build their homes on the hillside along Old Coach Road but decided to sell it instead.

Ivor Shier, director of operations of Corporate Helicopters of San Diego, was the pilot hired to give bidders a bird's eye view of the property on Thursday. On Friday, he was back with a partner who came to bid on the property.

The sale was the first of two auctions in as many days for Royal, who also hired J.P. King to auction his 2,881+/- acre Horse Canyon property in Kern County on April 17th.

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