Blackstone Picks Up Another NorCal Hotel Property

Blackstone has added a luxury resort in Napa Valley to its Northern California collection.

The New York-based asset manager acquired Stanly Ranch, part of the Auberge Collection, at auction on Friday, Bloomberg reported. The purchase came after the property’s previous owners defaulted on a $220 million loan. Blackstone previously acquired a loan on the property and moved forward with a planned foreclosure, according to a source with knowledge of the matter cited by Bloomberg.

Blackstone has simultaneously been adding to its hotel holdings and beefing up its office portfolio in an effort to meet the growing demand of artificial intelligence companies, especially in the Bay Area. Last year, the firm acquired the Four Seasons Hotel San Francisco as well as a 25-story office building at 300 Howard Street that it purchased for more than $111.3 million and then leased out entirely to Anthropic.

Stanly Ranch, which was developed by Nichols Partnership and Selby Development Group, opened to guests in 2022. The property spans more than 700 acres in Napa with 135 guest rooms as well as villas and vineyard homes for sale.

The lodging includes three outdoor pools and 19,000 square feet of meeting space. Vineyard home sales at Stanly Ranch began in 2021 with prices starting in the high $4 million range for single-family homes between 6,000 and 9,000 square feet, The Real Deal previously reported. Auberge will continue to manage the property while Blackstone takes over as owner.

Over on the East Coast, Blackstone has continued on a hotel-buying tear over the past year, picking up the East Miami Hotel in downtown Miami; the Sunseeker Resort in Port Charlotte, Florida; and the Kimpton Hotel Eventi in New York City. Its $130 million acquisition of the 277-key Four Seasons in San Francisco marked the firm’s first hotel purchase in San Francisco in roughly a decade. — Chris Malone Méndez