Warren Resort Hotels Buys Franciscan Inn & Suites in Santa Barbara, California for $22.5M

SANTA BARBARA, CALIF. — Warren Resort Hotels has acquired the Franciscan Inn & Suites, a boutique hotel in Santa Barbara’s West Beach district, from Ed St. George for $22.5 million, or $424,528 per key. Developed in the mid-20th century, Franciscan Inn & Suites features 53 guest rooms and suites, a pool, landscaped courtyard and dedicated parking. The property is walkable to both West and East beaches, Santa Barbara Harbor, Stearns Wharf, State Street and Funk Zone, an arts, dining and industrial district.

Austin Herlihy, Chris Parker, Miles Waters, Mike Lopus and Mike Chung of Colliers, in partnership with Steve Golis of Radius, marketed the asset and led the disposition and acquisition processes for both parties.