Weller Development Partners Buys 2,870-Acre Aetna Springs in Napa County for $35MM

Mosaic Real Estate Investors, CBRE, Aetna Springs, Napa County, Weller Development Partners, Napa Valley, Pope Valley, Six Senses, Rombauer, Frank Family, Duckhorn, The Prisoner

(Editor’s Note: The sale price was $35 million, according to a report by the San Francisco Business Times.)

SAN FRANCISCO – January 27, 2023 – CBRE has announced the sale of Aetna Springs, a planned 2,870-acre wine country resort in northern Napa County, to Weller Development Partners.

Henry Bose, Alex Lee-Bull and Elena Quach of CBRE’s Northern California Hotels team, and Jeff Woolson, Tom Berry and Morgan Abbott of CBRE’s Golf & Resort Group represented the seller Mosaic Real Estate Investors.

“Luxury resort properties have been among the strongest performers throughout the pandemic as travelers sought-out high-end amenities in drive-to markets. Situated in one of the most desirable drive-to destinations, Aetna Springs is one of the last large-scale development opportunities in Napa Valley – a rare opportunity for a well-positioned category,” said Mr. Woolson, an Executive Vice President with CBRE.

Located at 1600 Aetna Springs Road in Pope Valley, Calif., the property has producing vineyards, a community clubhouse, a nine-hole golf course designed by Tom Doak (closed, but minimally maintained), tennis courts, swimming hole, and 40 planned estate lots. Aetna Springs’ historic charm stems from its 19th century origins; the property was best known for its mineral hot springs and outdoor activities.

“Even in the midst of such uncertain economic times, the strength of the Napa market and the unique attributes of the property received very strong investor interest,” said Mr. Bose, Senior Vice President with CBRE in San Francisco. “Hospitality investors recognize the value to create their own resort destination within the Napa wine country and Weller Development provided the most compelling approach.”

Development plans include 70 guest cottages in the historic resort village, 18 luxury glamping sites, expansion of existing vineyards and the construction of estate homes. Additional plans include recreational activities on Lake Juliana, a full-service spa, recreation center, restaurants and boutique winery.

Weller Development Partners will continue with the proposed plans to develop the property as an upscale wine country resort focusing on health and wellness, operated by Six Senses.

The historic property is located 16 miles north of downtown St. Helena in Napa Valley’s American Viticultural Area, one of the most famous wine regions in the world. Aetna Springs’ vineyards produce Cabernet Sauvignon, Sauvignon Blanc and Petite Syrah grapes which are sold to premier wine brands, including Rombauer, Frank Family, Duckhorn and The Prisoner.

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