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Steve Hermann Hotels Sells The Inn At Rancho Santa Fe Luxury Boutique Resort For $100M

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SOLD
$100,000,000

California

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Hotel
Sold 07/24/2023
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SOLD

Steve Hermann Hotels Sells The Inn At Rancho Santa Fe Luxury Boutique Resort For $100M

5951 Linea Del Cielo, Rancho Santa Fe, CA 92067, United States

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Hotel
Sold 07/24/2023
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Summary

CALIFORNIA
Asset Type:Hotel
Transaction Type:Sale

The Inn at Rancho Santa Fe, a luxury boutique resort in north San Diego County, has been sold by Steve Hermann Hotels for a price of $100 million. The property, which consists of 85 rooms, was initially acquired by Steve Hermann Hotels in May 2022 for $42.7 million. Situated at 5951 Linea Del Cielo, the resort is located in the sought-after market of Rancho Santa Fe, known for its high entry barriers and five-star luxury offerings.

Summary of transaction details

The sale attracted the attention of an undisclosed institutional investment fund, which recognized the value in acquiring a five-star luxury resort with a strong market presence. The transaction highlights the lucrative nature of the Rancho Santa Fe market, where top-tier properties command significant interest and premium prices.

Players

Elliot Eichner
6 deals$365.9M volume
BROKER

David Sonnenblick
Sonnenblick-Eichner Company
2 deals$376M volume
BROKER

Details

SOLD
IMAGE: Elliot Eichner & David Sonnenblick DATE: 07/24/2023 ADDRESS: 5951 Linea Del Cielo - The Inn at Rancho Santa Fe MARKET: Rancho Santa Fe ASSET TYPE: Hotel SELLER: Steve Hermann Hotels BROKERS: David Sonnenblick & Elliot Eichner - Sonnenblick-Eichner Company SALE PRICE: $100,000,000 KEYS: 85 ~ PPK: $1,176,471 NOTE: Steve Hermann Hotels sold The Inn at Rancho Santa Fe, an 85-room luxury boutique resort in north San Diego County, for $100 million, after acquiring it for $42.7 million in May 2022. The buyer, an undisclosed institutional investment fund, recognized the opportunity to acquire a five-star luxury resort with high entry barriers in the market.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
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