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California  + Inland Empire  + Hospitality  | 
Murrieta Hot Springs Purchased by SteelWave for $50M

Murrieta Hot Springs Changes Hands for $50M

Resort operator Olympus Real Estate Group has purchased the Murrieta Hot Springs Christian Conference Center and Bible College Campus for $50 million and plans on redeveloping the property as a wellness resort. Calvary Chapel of Costa Mesa sold the high-profile complex as it no longer meets Calvary’s needs, according to the Press Enterprise.

The 46-acre property, which was originally developed in 1902 as a luxury health retreat, features hot springs, guest lodges with over 200 rooms, auditoriums and restaurant facilities. Justin Esayian of The Hoffman Company, who brokered the deal, said suitors for the property included churches, medical centers and educational institutions.

Olympus founder David Dronet called Murrieta Hot Springs an irreplaceable property with tremendous history, and one of the top health resorts in the country, adding that the firm looks forward to making the property a world-class wellness destination once again.

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Inside The Story

Olympus Real Estate GroupThe Hoffman Company's Justin Esayian

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
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