Rick Caruso has quietly scooped up Sherwood Lake Club, the Jack Nicklaus-designed 18-hole par-3 course tucked into the Santa Monica Mountains near Thousand Oaks. His team is already at work on the property, pitching changes to the clubhouse and pool to give the club a more family-friendly feel. The deal marks another step in the developer’s gradual shift away from big malls and toward private clubs and residential projects outside central Los Angeles.
Caruso said the purchase “came together very quickly” after the previous owner’s death and that he signed papers within days. He did not disclose the price or terms, according to The Real Deal. The club had been owned by David H. Murdock until his death in June 2025, as reported by the Los Angeles Times. Caruso’s team has not yet released a full timeline for the upgrades.
What Caruso bought
Sherwood Lake Club operates as a private recreation spot with an 18-hole, par-3 golf course plus tennis, swimming and fitness amenities, according to the club’s website. The short course was built as a Jack Nicklaus “Bear’s Best” par-3 layout and is listed on Nicklaus Design’s course pages. Public materials show an existing clubhouse and pool, both of which Caruso’s team says will get a refresh during the renovation.
Renovations already underway
Caruso’s crew has broken ground on a sizable renovation that, according to L.A. Material, calls for a larger clubhouse with an Italian-themed restaurant, a new bar and an upgraded gym. The pool is set to be relocated to open up more outdoor space. The Real Deal reported that the developer is also weighing a new name for the members-only club. Early construction activity suggests the work will be phased so the club can keep at least some operations running while the upgrades move ahead.
Where this fits in Caruso’s playbook
The move fits a pattern for Caruso’s company, which already operates the Miramar Club in Montecito and has been leaning into mixed-use projects such as the Commons at Calabasas. Plans there call for more than 80 apartments and new retail, according to Caruso and local reporting. Caruso told L.A. Material that “we’ve got a lot of neighboring cities that are well-managed, clean and safe,” a comment that points to a strategy of building outside the city limits of Los Angeles. The Commons expansion officially broke ground earlier this year, according to Valley News Group.
Neighborhood impact
Neighbors and local planners will be watching for any shifts to membership rules, construction traffic and public access as the Sherwood project advances. Caruso developments are typically designed to pull in foot traffic and dining dollars, but they often spark debate over scale, traffic and who actually gets to enjoy the finished product. Permitting and environmental reviews could still shape how ambitious the final renovation looks, and the company has not posted a public completion date.
Caruso’s move into Sherwood comes as the company preps other reopenings and redevelopments, with Palisades Village slated to come back later in 2026. Together, the projects underline a continued focus on retail, dining and hospitality paired with housing. The Sherwood purchase shows the developer testing a blend of private-club hospitality and potential residential upside outside central Los Angeles, and officials say more details will roll out as permits clear and member plans are finalized.
