WASHINGTON, D.C. -- The Sport & Health Company announced that a Washington, D.C. real estate group purchased its 26 full-service health clubs and three full-service day spas for $75 million, including assumed liabilities. The announcement, made by Donald Konz, the company's new chief executive officer, returns the clubs, all of which are located in the Washington, D.C. metropolitan area, back into local hands. Konz said the new owners would use their health club, business and real estate experience to help the company's 2,200 associates deliver extraordinary health and fitness programming, facilities and services to its more than 80,000 members.
The acquisition of the company was organized by Tom Fauquier, another partner in the new ownership group, Sport & Health Holdings, LLC, and a principal in the Vanguard Realty Group. Along with Fauquier, Konz and Jonathan Adler, who becomes president and COO, other members of the ownership group include John Ariail, a long standing partner of Konz, and local real estate developers and investors Barry and Rusty Minkoff and Paul Chod of Minkoff Development. Mitch Batkin, current vice president of fitness of Sport & Health, will continue his role under the new management.