Luxurious Napa Valley Resort Faces Default on $230 Million Development
A project in Napa Valley aiming to transform vineyard property into a luxury resort with multimillion-dollar homes and a hotel is in default on a $235 million construction loan. The project, Stanly Ranch, involves a 95-acre development with a resort and spa, single-family homes, vacation villas, and a winery. The loan was not among the troubled mortgages on the lender’s watchlist, but is now facing potential foreclosure. The project is led by Denver-based developer Nichols Partnership and will be operated by Auberge Resorts. Room rates are expected to start at $800 a night, with home prices beginning at $4.5 million.
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