IE Business Daily Business news for the Inland Empire.
Murrieta Hot Springs, the 46-acre property in southwest Riverside County that has been home to a Christian conference center and Bible college since 1995, has been sold.
Olympus Real Estate Group paid $50 million for the site at 39401 Hot Springs Road, according to a statement released Tuesday.
The seller was Calvary Chapel of Costa Mesa, which converted the site into a conference retreat center and Bible college in 1995. The transaction closed Aug. 12
Olympus is a development and investment company that owns, among other high-end properties, The Springs Resort and Spa in Pagosa Springs, Colo. It has, or is developing, more than $500 million worth property, according to the company’s website.
Olympus announced its plans to buy the property and covert into a spa and wellness resort one year ago. The property has roughly 280,000 square feet of infrastructure, 38 buildings, 12 guest lodges, two auditoriums, commercial kitchens and restaurant facilities, according to the statement.
What are they planning to do with this property?
Very excited the wonder of The Springs is coming our way!