San Francisco, California – January 21, 2015 – CBRE Hotels is pleased to announce the sale of The Sunburst Calistoga Hotel located at 1880 Lincoln Avenue in Calistoga, California in the heart of world famous 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.
Mr. Bose commented, “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.” Mr. 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. For more information, please visit our website at www.cbrehotels.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.