CALISTOGA, CA—CBRE Hotels has completed the sale of The Sunburst Calistoga Hotel located at 1880 Lincoln Avenue, in the center of the Napa Valley. A local family partnership sold the property to Calistoga Hotel Group, LLC, an investment vehicle for Eagle Point Hotel Partners, for an undisclosed amount.
The buyer is planning to reposition the 50-room property to take advantage of the hotel's large land area, valuable mineral springs, and proximity to downtown Calistoga, nearby wineries and attractions. Filament Hospitality is now managing the property for the new owner.
CBRE Hotels' team who represented the seller in this transaction consisted of senior vice presidents Henry Bose and Mark McDermott, located in the firm's San Francisco office.
“The hotel offering attracted a tremendous amount of buyer interest, which is a testament to the long range investor belief that Napa Valley is a landmark destination,” said Bose.
McDermott added, “The Napa Valley lodging market has long drawn travelers from all over the world, and we are now seeing similar diversity among investors, with both domestic and international parties seeking to acquire wine country assets.”
CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
