IMH Lands Historic Sonoma Hotel
- Oct 06, 2017
IMH Financial Corp. acquired MacArthur Place Hotel & Spa, an upscale 64-key hotel situated on a five-acre parcel in Sonoma, Calif. CBRE represented the seller in this transaction.
Located at 29 E. MacArthur St., the hotel is within a 45-minute drive from San Francisco and four blocks from the historic Sonoma Plaza. The property is convenient to both Sonoma Valley and Napa Valley wineries. Originally a vineyard and working ranch, MacArthur Place features 19 buildings, including a spa, meeting space, restaurant and pool.
“The unique nature of the 160-year-old property and its Victorian architecture makes this project exciting and fun for the guest and our team alike. The historical significance and provenance of MacArthur Place are precisely the attributes we seek when acquiring a boutique property,” said Lawrence Bain, IMH chairman & CEO, in a prepared statement.
Renovation and expansion plans
IMH is planning a major facelift of the entire property, including the arrival experience, reception, culinary venues, spa, pool and all of the guest rooms and suites. Upon completion, which is anticipated by early summer, IMH will rebrand the hotel as L’Auberge de Sonoma, adding another property to their five-star resort portfolio. The group also manages L’Auberge de Sedona and Orchards Inn, both in Sedona, Ariz., two boutique hotels that have recently been purchased by DiamondRock Hospitality Co. for $97 million.
By the end of 2017, IMH expects to acquire another high-end boutique hotel and re-brand it as its third L’Auberge property.
Henry Bose and Mark McDermott from CBRE San Francisco were part of the team of agents who represented MacArthur Place in this deal.
Image courtesy of IMH Financial Corp.