Aetna Springs Resort & Vineyard Estates
Size of property3,100 acres with plans to develop an 88 key luxury resort, 44 estate lots and over 400 acres of vineyards.
Acquisition Cost$22 million
Keys88, which includes 70 guest cottages and 18 luxury glamping tents.
What we accomplished
Previous developers were unable to restore the historic hot springs resort which had been closed for over 50 years. A... Read More
Previous developers were unable to restore the historic hot springs resort which had been closed for over 50 years. A public pension fund invested nearly $140 million in the prior decade and needed to exit. The 3,100 acre site is the largest resort and residential estate property in Napa Valley and posed a daunting challenge to all who considered it. We saw the opportunity when others could not.
We had a clear vision of the building blocks to create a financially feasible plan and resurrect this historic hot springs resort. We worked cooperatively with Napa County to secure permit revisions to make the resort attractive to leading luxury operators and negotiated novel financial guarantees of performance from them. We also obtained planting permits and water allocations for over 400 acres of vineyards whose value alone exceeded our entire purchase costs.