Academia Sanchez-Casal buys Naples Bat & Tennis Club

BUYER: Rigby Enterprises LLC (principal: Emilio Angel Sanchez Vicario), Naples

SELLER: PB-CRE Asset III LLC

PROPERTY: 4995 Airport Road N. and 1900 Bald Eagle Drive, 22, 102, 103 and 105 Bob O Link Court and 1557 Oyster Catcher Point, Naples

PRICE: $3.27 million

PREVIOUS PRICE: $4.35 million, January 2005; $355,000, March 2006; $345,000, January 2006; $320,000, February 2006; $289,900, April 2005; $250,000, January 2005 and $175,000, January 2005

LAW FIRM ON DEED: Hinshaw & Culbertson LLP, Coral Gables

PLANS, DESCRIPTION: The tennis training academy Academia Sánchez-Casal purchased the 36,154-square-foot Naples Bath & Tennis Club and six surrounding apartment units for $3.27 million.

Built in 1975, the main club property features 38 tennis courts, a maintenance building and a clubhouse. The facility's other amenities include an Olympic-size pool, hot tub, restaurant, bar, banquet hall and fitness center. The apartments are located adjacent to the tennis club. The property also includes a 217-space paved parking lot.

The Barcelona, Spain-based tennis academy was founded by former tennis pros: Sergio Casal and Emilio Ángel Sánchez Vicario. Vicario is also a Naples resident. Academia Sánchez-Casal had operated a Naples branch from the Naples Bath & Tennis Club for three years until the academy ran into a disagreement with the club's previous owner in 2010.

Current seller PB-CRE Asset III LLC, an affiliate of The Private Bank, acquired the property in lieu of foreclosure from former owner Tennis Realty LLC in March.

“We've been trying to get back in there for quite a while now,” says Arantxa Gallastegui, general manager of the Naples club. “We ran into some problems with the operator of the club and had to close [the Naples branch]. We're going to reopen it just like it was before with the tennis academy and a club for members.”

Academia Sánchez-Casal expects to reopen by the end of the month.

The purchase entity Rigby Enterprises LLC mortgaged the property to Banco de Sabadell SA for $2.35 million.