JLL Arranges Calistoga Ranch Sale
Friday December 20th, 2013 - 12:37PM FE
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CALISTOGA, CA—Jones Lang LaSalle’s Hotels & Hospitality Group arranged the sale of the Calistoga Ranch on behalf of Olympus Real Estate Partners for $55 million, or $1.1 million per key.
The 50-room luxury resort was developed by Olympus 10 years ago. Olympus previously sold out the 22-unit residential component of the project, which paved the way for the current disposition of the resort, according to the company.
Managing Director John Strauss led the Jones Lang LaSalle Investment sales team on the transaction.
Located on 157 acres, the ranch offers a restaurant, spa, two pools and 140 acres of land for hiking and other activities.
Tags: JLL • Jones Lang LaSalle • Olympus Real Estate Partners • Calistoga Ranch • Hospitality • Acquisitions • Brokers •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.