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Hotel Californian Sale is One of Santa Barbara’s Largest
In one of the largest sales of a Santa Barbara hotel property, the Hotel Californian recently traded to one of Bill Foley’s companies for an undisclosed purchase price. Foley is the founder of Foley Family Wines and the chairman of Foley Entertainment Group (FEG).
The recently redeveloped 121‐room hotel includes more than 21,000 square feet of retail and restaurant space. Under its new ownership, the hotel will benefit from the expertise of FEG, which is also led by co‐CEO Randy Morton who managed Bellagio Resort and MGM Resorts International in Las Vegas.
Located just a block from Santa Barbara’s waterfront, the property is considered a major catalyst for development and renewed interest in the Funk Zone district.
Austin Herlihy and Chris Parker of Radius Commercial Real Estate represented the seller, and Steve Leider and Clarice Clarke of Lee & Associates represented the Foley entity.
- ◦Sale/Acquisition
