CALISTOGA, Calif.--(BUSINESS WIRE)--One of the most remarkable and last remaining, untouched large parcels in Napa Valley is now being marketed by Christie’s International Real Estate, the world’s leading luxury real estate network, in conjunction with its San Francisco-based affiliate Pacific Union, and commercial broker Cushman & Wakefield.
The investment opportunity in Calistoga Hills Resort, a fully entitled, 88-acre property featuring expansive views from its hillside setting in the city of Calistoga, is being offered at a value of U.S. $100 million.
Master-planned and fully supported by the surrounding municipality, the development rights for Calistoga Hills Resort have been meticulously conceived. Due to land scarcity and a local agricultural preserve that restricts subdivision and overnight accommodations in areas of Napa County outside city limits, the project’s entitlements -- which were painstakingly secured over a 15-year period -- allow for a rare opportunity to create an iconic resort community of unparalleled quality within Napa Valley. The development would feature the area’s most luxurious hotel, along with villas and estates, all within a location widely regarded among the world’s most spectacular. An investor would share in the vision advanced in a partnership with the community to mold a legendary destination while protecting the environment and maintaining the purity of Calistoga’s rustic charm.
“The potential for this undeveloped parcel cannot be overstated,” said Bonnie Stone Sellers, Chief Executive Officer of Christie’s International Real Estate. “Given its private setting and significant acreage in the heart of Napa’s wine country, it is truly the last of its kind in the region for the development of a high-end resort and residential enclave.”
The entitlements allow sufficient flexibility to develop the site to the investor’s final specifications. The investor may also choose to create additional amenities to the resort’s offerings by acquiring nearby top wineries and vineyards that may be available for purchase.
“The project’s prime location and capacity for a multitude of exclusive offerings make it a natural draw for international resort clientele as well as global and local luxury residential investors,” said Mark McLaughlin, Chief Executive Officer of Pacific Union. “It’s an extraordinary property.”
James Escarzega, Managing Director of Global Hospitality at Cushman & Wakefield, added, “Based on recent research, the average room rate for hotels at the top end of the market in Napa County is among the highest in the country, approaching $1,000 per night. This is a remarkable development opportunity.”
The current vision for Calistoga Hills Resort comprises three primary elements: a 110-room, five-star luxury hotel inclusive of every amenity possible such as a full-service spa, 20 private villa residences, and 13 world-class custom estates, all set amongst a majestic forest and vineyards. All of the homes would receive the benefit of the hotel services and amenities.
In addition to its central location in wine country, Calistoga Hills Resort maintains a commanding position on a ridge of the foothills of the Mayacamas Mountains – 430 feet above the valley floor -- allowing for east and west exposures, maximum sun and the privacy of a woodland setting. The property is directly accessible from State Highway 29 (Napa Valley’s main north-south thoroughfare) and offers easy access to the City of Calistoga and the valley below.
The City of Calistoga is renowned for its mineral hot springs, gourmet restaurants and its distinct wines, which are globally recognized. Calistoga Hills Resort is adjacent to both Reverie Winery and Von Strasser Vineyard on Diamond Mountain and is within close proximity to Chateau Montelena, Diamond Creek, Frank Family Vineyards, La Sirena, Araujo Estate Winery and Schramsberg Vineyards. Indeed, a leading French vineyard recently purchased property in Calistoga, recognizing the value of the area.
This offering represents a unique collaboration between the Christie’s International Real Estate network and the commercial brokerage operations of Cushman and Wakefield, together attracting high-net-worth individuals, institutional investors and joint developers from all over the world.
For sales inquiries, please contact Zackary Wright of Christie’s International Real Estate at +1 310.385.2680, Hillary Marino of Pacific Union at +1 707.225.3706 or James Escarzega of Cushman & Wakefield at +1 415.773.3586. To view a video of the property, please go to www.calistogahillsresort.com.
About Christie’s International Real Estate
Christie’s International Real Estate is an invitation-only Affiliate network composed of the world’s most proven and qualified real estate specialists in the luxury residential sector. The company has offices in London, New York, Hong Kong, Beverly Hills, Chicago, and Palm Beach, and more than 139 global Affiliates with 27,000 real estate professionals in 45 countries. For additional information about Christie’s International Real Estate, please visit www.christiesrealestate.com.
About Pacific Union
Pacific Union is the San Francisco Bay Area’s premier luxury real estate brand operating in eight regions. The brokerage offers a full range of personal and commercial real estate services, including buying, selling, and relocation, and enjoys a relationship with Christie’s International Real Estate. Locally owned, Pacific Union operates with an entrepreneurial mindset and unwavering commitment to deliver exceptional service and expertise. For more information, please visit us at www.pacificunion.com.
About Cushman & Wakefield
Founded in 1917, Cushman & Wakefield is the world’s largest privately-held commercial real estate services firm. The company has 253 offices in 60 countries and more than 14,000 employees. Cushman & Wakefield (C&W) Global Hospitality, a division of C&W Capital Markets, is the premier capital markets advisor to the hospitality industry. C&W Global Hospitality provides a full range of real estate financial services, including investment sales, debt and equity financing, recapitalizations, loan sales, and advisory services for all property types. The group has arranged over $16 billion of recent transactions on behalf of the world’s largest hotel and resort owners. For more information, please visit www.cushmanwakefield.com.