Escrow On 43-Acre Murrieta Bible College Likely To Close In 2022

MURRIETA, CA — Escrow on the sale of the 43-acre Murrieta Hot Springs Christian Conference Center and Bible College Campus is not expected to close until next year — if and when it does, it will likely operate as The Murrieta Hot Springs Resort & Spa.

The property at 39401 Murrieta Hot Springs Road has been up for sale, and officials confirmed the listing early last year. No price was set, but a statement at the time to Patch from the listing brokerage firm, The Hoffman Company, said, "We will let the market price it, though we would expect interest in the $50 million range."

On Monday, The Hoffman Company confirmed the escrow to Patch but did not release details, saying only that escrow closing is expected next year.

According to City of Murrieta documents, the buyer is Olympus Real Estate Holdings, LTD, dba The Murrieta Hot Springs Resort & Spa. OREH is tied to David Dronet, a Texas-based developer who, with a partner, in 2018 purchased The Springs Resort & Spa located in Pagosa Springs, Colo. The luxury resort is situated on a geothermal hot spring.

First developed into a luxury health retreat in 1902, the Murrieta site was a resort that attracted locals, travelers and celebrities lured to natural hot springs in the area. In 1908, California Hotel was completed at the site, and much of the original architecture remains today.

More accommodations were erected over the years, but in the 1980s the property fell into disrepair then came back to life in 1995 when Calvary Chapel of Costa Mesa purchased the site for $6.5 million and invested $38 million to restore, upgrade and expand it into a Christian conference retreat center and Bible College Campus.

"This is one of the most remarkable properties available today in the Inland Empire," said Hoffman's Justin Esayian, who is handling the sale. "Given its unique history, the scale, scope and excellent condition of its facilities and the beautiful landscaping, we expect a lot of interest from a broad range of potential buyers, including educational, medical, hospitality, religious and senior housing organizations."

The gated campus is zoned for civic or institutional land use and is offered in its current condition. It features approximately 279,000 square feet of infrastructure, including 38 buildings, a dozen lodges with 248 rooms. It can accommodate up to 1,200 overnight guests, and has two large auditoriums, two commercial kitchens and dining halls. There are classrooms, meeting spaces, administrative offices and 741 parking spaces.

The grounds are manicured with walkways meandering through landscaping, a small lake and numerous outdoor recreational amenities including nine tennis courts and a newly renovated sports field. The tennis courts are leased by the Murrieta Tennis Club.

Original to the property are the hot springs that feed into a large pool. There are also five soaking spots and a Roman spa, Esayian said.

"Part of what makes this property so special are all the uses and improvements you get in one place: natural hot springs, the ability to lodge large numbers of guests, numerous indoor and outdoor meeting and dining spaces, recreational amenities and all within a mature, lush and beautifully manicured setting," Esayian continued.

The natural hot springs, soaking pools and recreational facilities make the property ideal for senior housing or long-term rehabilitative care, Esayian said, and converting the property back to a resort with a wellness focus would be a clear fit for a hospitality operator.