Vineyards

Californian hotel sold to Vineyard, owner of entertainment company Bill Foley


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Hotel Californian, one of the anchor points of Santa Barbara’s thriving Funk Zone, has just changed hands in what Lee and Associates Central Coast, a commercial real estate group, calls “one of the biggest sellers. of hotel properties never realized in Santa Barbara “.

The deal, which closed on September 1 for an undisclosed amount, was led by local commercial real estate companies Santa Barbara Radius Commercial Real Estate and Lee & Associates Central Coast, with Austin Herlihy and Chris Parker of Radius representing the salesperson, and Steve Leider and Clarice Clarke of Lee & Associates representing the new owner, Bill Foley.

Foley is the founder of Foley Family Wines, which owns several wineries around the world and locally in the Santa Ynez Valley. Foley is also the president of Foley Entertainment Group, which oversees athletic properties, recreational properties and restaurants in California, Nevada and Montana.


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The 121-room hotel includes over 21,000 square feet of retail and dining space.

The redeveloped historic property was originally home to the historic Hotel Californian, which was built in 1925 and destroyed shortly thereafter in a major earthquake that rocked the area. The property remained vacant until it was purchased as a major development project titled “La Entrada” in 2011 by 35 State Street Hotel Partners.

“We are delighted to welcome Hotel Californian to the Foley Entertainment Group family,” said Randy Morton, co-CEO of Foley Entertainment Group. “The Californian Hotel seized the incredible opportunity to be part of the rebirth of Lower State Street and the growth of the Santa Barbara Funk Zone. We look forward to innovative collaborations with the Foley Food & Wine Society and other FEG entities to further enhance the customer experience.


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