Historic Inn at Rancho Santa Fe Acquired for $100 Million
The Inn at Rancho Santa Fe, an 82-room luxury boutique resort located in Rancho Santa Fe, California, underwent significant financial transactions. Initially, Sonnenblick-Eichner Company, on behalf of Steve Herman Hotels, arranged a $50 million first mortgage debt for the acquisition of the property. This financing was aimed at both acquiring and renovating the Inn, with $15 million allocated for an extensive renovation to reposition the resort as a premier destination in California. The financing was a non-recourse floating rate loan covering 85% of the total costs, including the property's renovation, and was priced in the mid 7% range.In 2023, a $100 million sale of The Inn at Rancho Santa Fe was arranged by Sonnenblick-Eichner Company, also on behalf of Steve Hermann Hotels. The resort, post-renovation, was positioned as a preeminent luxury destination, attracting the interest of an institutional investment fund for the purchase.