Sunstone Hotel Investors acquires Montage Healdsburg Resort for $265m
Sunstone Hotel Investors, a lodging real estate investment trust (REIT), has acquired the Montage Healdsburg Resort in Sonoma County, California for $265 million, from affiliates of Ohana Real Estate Investors.
Construction on the luxury resort was completed in December 2020. It is said to provide a secluded and calm retreat with convenient access to wineries and amenities of the wine region in the county.
The Montage Healdsburg Resort has 130 bungalow-style rooms and suites. Each of them has outdoor fireplaces and many of them have their own outdoor showers.
The 117-acre luxury resort has 16 acres of vineyards, a spa, separate adult and family pools, various signature dining experiences, and more than 12,000sft of purpose-built meeting space and event lawns.
Montage Hotels & Resorts will continue to manage the Montage Healdsburg luxury resort, said Sunstone Hotel Investors.
Sunstone Hotel Investors acquires Montage Healdsburg Resort for $265m. Photo courtesy of LEEROY Agency from Pixabay.
The resort is located near the separately owned Montage Residences Healdsburg, a wine country retreat. Montage Residences Healdsburg will have 40 luxury homes in the future that will be eligible to take part in the optional turn-key resort rental program.
Ohana Real Estate Investors will continue to own and handle the development and sales of Montage Residences Healdsburg.
John Arabia – President and CEO of Sunstone Hotel Investors said: “Montage Healdsburg is a spectacular resort, ideally located in one of the most sought-after and highest-rated leisure destinations in the U.S.
“The Resort, which took over 15 years to develop, is a perfect example of Long-Term Relevant Real Estate and its addition elevates the overall quality and growth prospects of our portfolio. Leveraging our industry relationships, we acquired the Resort on an off-market basis and at a discount to what it would cost to develop today.”