RobertDouglas Advises Fespar Enterprises on Ground Lease for Luxury Hotel Development at Santa Barbara's Waterfront
RobertDouglas announced today that it advised Fespar Enterprises LLC in structuring a long-term ground lease with The Robert Green Company for the development of a world-class luxury resort on the waterfront in beautiful Santa Barbara, California.
The project is situated on a breathtaking 3-acre waterfront site with spectacular views of the Pacific Ocean and down the coast. It faces a pristine ocean front park, sand beach and whitewater along Santa Barbara's beautiful Cabrillo Boulevard. The project has been impeccably designed with classic Santa Barbara style architecture by renowned hospitality architect Robert Glazier.
The property will feature well-appointed guest rooms with a generous number of suites, plus a restaurant and bar, beautiful meeting space, ocean view outdoor function space, and a roof top pool deck and bar overlooking the Pacific Ocean. Details of the hotel brand have yet to be announced.
"The Site is considered to be the last waterfront development opportunity in one of California's premier resort markets, making this a truly irreplaceable Project," remarked Lindsey Whang, a Director at RobertDouglas based in Los Angeles.
"This ground lease signing was the culmination of a highly competitive process involving world-class developers, strategic and high net worth investors, and luxury hospitality brands that responded enthusiastically to the opportunity," noted Stephen O'Connor, a Principal and Managing Director of RobertDouglas.