JLL Arranges Calistoga Ranch Sale
Friday December 20th, 2013 - 12:37PM FE
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
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 •
As we begin 2015, and what is expected to be a healthy year for the hotel industry with expansion, progress and innovation as key catalysts for growth, Hotel Business is right on board with that momentum, bringing you, with this issue, our own updated product.