Rick Caruso Just Bought Sherwood Lake Club — And Renamed It. Here's What It Means for Our Community.

By Calabasas Lifestyle

Something significant just landed in our backyard — and if you live in Calabasas, Westlake Village, Lake Sherwood, or the surrounding communities, this story is worth paying close attention to.

Rick Caruso, through his Caruso company, has acquired the 18-hole Sherwood Lake Club in Lake Sherwood. And in true Caruso fashion, he moved fast. "It was offered to me on a Friday afternoon, and we signed the paperwork on Tuesday," Caruso said.

The deal is done. The renovations have already begun. And the club has a new name.

Meet the Miramar Lake Club

Caruso has unveiled a first look at his new private golf and social club called Miramar Lake Club — formerly known as Sherwood Lake Club, located behind the gates of the Sherwood community near Thousand Oaks at the base of the Santa Monica Mountains — set to open later this year.

The rebrand is telling. Industry insiders have speculated that the finished concept may take cues from Caruso's wildly successful Miramar Club in Montecito, which has set a new standard for private members-only hospitality on the California coast. Bringing that standard to our region — a Jack Nicklaus-designed course tucked into the Santa Monica Mountains — is a significant statement about where Caruso sees the Conejo Valley heading.

What's Being Built

The 18,000-square-foot clubhouse is slated to receive a new Italian-themed restaurant and bar as well as a refreshed gym. 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 course itself — an 18-hole par-3 layout — remains the anchor. But the vision is clearly something more elevated and more social than what Sherwood Lake Club has historically offered. Think less traditional golf club, more private lifestyle destination.

Why Rick Caruso — And Why Here

This acquisition isn't an accident or an impulse buy. It's part of a deliberate strategic shift. Caruso's acquisition is one part of the developer's plan to grow more into apartments and private clubs after building his reputation around open-air shopping centers around Los Angeles like The Grove and The Americana at Brand.

And critically — Caruso has been candid about his strategic shift toward neighboring cities he describes as "well-managed, clean and safe." That's a direct vote of confidence in the Conejo Valley — and in the communities Calabasas Lifestyle covers every day.

His existing footprint in our area already includes the Commons at Calabasas and the Promenade at Westlake. The Miramar Lake Club deepens that commitment considerably.

What It Could Mean for Our Community

Caruso projects are typically not short-term flips — they are long-term holds designed to appreciate over time, often benefiting surrounding residential real estate.

For homeowners in Lake Sherwood, Westlake Village, Hidden Valley, North Ranch, and Calabasas, a Caruso-branded private club in the neighborhood is a meaningful signal. Luxury amenity-driven communities consistently outperform surrounding markets over time — and a Jack Nicklaus course reimagined by the developer behind the Rosewood Miramar Beach is a serious amenity.

For the broader community, it means a new destination-quality dining, golf, and social experience is coming to our backyard — the kind of private club experience that has previously required a drive to Montecito or beyond.

There are also residents with concerns — any significant change to a beloved private community raises legitimate questions about membership structure, access, and whether the "community feel" that makes Lake Sherwood special will survive the transformation. Those are fair questions, and Caruso's team has not yet released full details on membership plans or timelines.

What Happens Next

Officials say more details will roll out as permits clear and member plans are finalized. The club is targeting an opening later this year — though no formal date has been confirmed.

Calabasas Lifestyle will continue to follow this story as it develops. If you have connections to the Sherwood community or information about the membership program, we'd love to hear from you at info@calabasaslifestyle.com.

This is the biggest local development story of 2026. Stay close.

Calabasas Lifestyle is the region's digital-first lifestyle magazine covering Calabasas, Malibu, Westlake Village, Agoura Hills, and Woodland Hills.