130 Room Montage Healdsburg Hotel in Californaia Sold for $265 Million

130 Room Montage Healdsburg Hotel in Californaia Sold for $265 Million

One of the highest valued hotel transactions in the United States at over $2 million per key.

Montage Healdsburg Hotel - Exterior

130 Room Montage Healdsburg Hotel in Californaia Sold for $265 Million

Ohana Real Estate Investors announced the sale of the 130-room Montage Healdsburg to Sunstone Hotel Investors, Inc. for $265 million. Ohana will retain ownership of the residential parcels within the property and has already begun constructing homes and selling custom homesites that will be affiliated with the resort.

Montage Healdsburg is a newly-built, 258-acre resort situated in the heart of California’s wine country in Sonoma County, located just a short distance from downtown Healdsburg. Designed using sustainable development practices, the environmentally friendly resort sits lightly within a hillside setting so as not to disturb the area’s natural landscape. The resort’s amenities feature multiple pools, a full-service spa and indoor-outdoor dining options, including a multi-level main restaurant and outdoor bar and grill overlooking the resort’s vineyards.

“This sale reflects the strong interest from investors in best-in-class, leisure-oriented resorts as the hotel industry begins to recover from the effects of the COVID-19 pandemic,” said James Cole, Head of Asset Management at Ohana. “The City of Healdsburg and Montage have been incredible partners throughout the development process of this truly unique resort, and we look forward to continuing to collaborate with them. Sunstone is a well-respected, institutional owner of hotels and we look forward to their ownership of the hotel as we complete the build out of the 68 private residential units.”

Ohana has been among the most active investors in the hotel sector since the onset of the pandemic, investing in a range of luxury hotel properties and related investments. “We believe the high-end hotel sector benefits from attractive long-term supply and demand fundamentals, and we intend to be a net buyer of hotel properties in the coming year as we continue to see compelling investment opportunities,” said Franco Famularo, Chief Investment Officer of Ohana.

This transaction, advised by global law firm Dentons, marks the second time Ohana has sold a hotel property for more than $2 million per key. The first sale occurred in December 2019 when Ohana sold Montage Beverly Hills for $2.1 million per key, the highest price-per-key hotel sale in the U.S. at the time.

Logos, product and company names mentioned are the property of their respective owners.

© 2021 Hotel News Resource

Source link

Similar Articles



Please enter your comment!
Please enter your name here



Most Popular