CBRE brokers sale of Napa Valley resort

CBRE has brokered the sale of Aetna Springs, a planned 2,870-acre wine country resort in northern Napa County, to Weller Development Partners.

Henry Bose, Alex Lee-Bull and Elena Quach of CBRE’s Northern California Hotels team, and Jeff Woolson, Tom Berry and Morgan Abbott of CBRE’s Golf & Resort Group represented the seller, Mosaic Real Estate Investors.

“Luxury resort properties have been among the strongest performers throughout the pandemic as travelers sought out high-end amenities in drive-to markets,” said Woolson, an EVP with CBRE. “Situated in one of the most desirable drive-to destinations, Aetna Springs is one of the last large-scale development opportunities in Napa Valley—a rare opportunity for a well-positioned category,”

Located in Pope Valley, CA, the property has producing vineyards, a community clubhouse, a nine-hole golf course, tennis courts, a swimming hole and 40 planned estate lots.

“Even in the midst of such uncertain economic times, the strength of the Napa market and the unique attributes of the property received very strong investor interest,” said Bose, SVP with CBRE in San Francisco. “Hospitality investors recognize the value to create their own resort destination within the Napa wine country and Weller Development provided the most compelling approach.”

Development plans include 70 guest cottages in the historic resort village, 18 luxury glamping sites, the expansion of existing vineyards and the construction of estate homes. Additional plans include recreational activities on Lake Juliana, a full-service spa, a recreation center, restaurants and boutique winery.

Weller Development Partners will continue with the proposed plans to develop the property as an upscale wine country resort focusing on health and wellness operated by Six Senses.

The historic property is located 16 miles north of downtown St. Helena in Napa Valley’s American Viticultural Area.