Historic Murrieta Hot Springs sells for $50m to Olympus Real Estate Group
Olympus Real Estate Group has paid $50 million for the historic Murrieta Hot Springs in Murrieta, Calif.
The firm plans to renovate and preserve the 46-acre property as a hot springs wellness resort and day spa.
The property, located in southwest Riverside County at 39401 Murrieta Hot Springs Road, is fully developed with approximately 279,000 square feet of infrastructure, including existing operating hot springs, 38 buildings, a dozen guest lodges with more than 200 rooms, two large auditoriums, commercial kitchens and spacious restaurant facilities.
“It is an extraordinary property with a long and deep-rooted history in the community,” said Justin Esayian of The Hoffman Co., who was the sole listing broker on the transaction, which closed Aug. 12. “To see it going back to its origins as a major destination for wellness and rejuvenation is a boon for the entire Temecula Valley. It has the potential to transform the win