Historic 46-Acre Bible College On Murrieta Hot Springs Sells For $50M

MURRIETA, CA — The 46-acre Murrieta Hot Springs Christian Conference Center and Bible College Campus located at 39401 Murrieta Hot Springs Road has sold for $50 million, officials confirmed Tuesday.

The buyer, real estate investment and development firm Olympus Real Estate Group, plans to renovate and preserve the historic property as a hot springs wellness resort and day spa, according to a news release from The Hoffman Company, which represented Olympus and Calvary Chapel in the transaction.

Over the next 18 months, Olympus plans to renovate the property and reopen it as a retreat with expanded use of the natural hot springs, overnight guest lodging, a full suite of wellness classes and activities, a geothermal-focused spa and access for day guests, according to the company.

The property is fully developed with approximately 279,000 square feet of infrastructure, including existing operating hot springs, 38 buildings, a dozen guest lodges with over 200 rooms, two large auditoriums, commercial kitchens and restaurant facilities.

“It is an extraordinary property with a long and deep-rooted history in the community,” said Justin Esayian of The Hoffman Company, who was the sole listing broker on the deal that closed Aug. 12. “To see it going back to its origins as a major destination for wellness and rejuvenation is a boon for the entire Temecula Valley. It has the potential to transform the wine region’s tourism market and generate significant tax revenue for the city [of Murrieta and nearby cities that benefit from visitor dollars that will be spent in their towns]."

The property was originally developed in 1902 as a health retreat known as the Murrieta Hot Springs Resort. It attracted locals, travelers and celebrities to its restorative waters before falling into disrepair in the 1980s. It came back to life in 1995 when Calvary Chapel of Costa Mesa converted it into a Christian conference retreat center and Bible College Campus.

Mike Mugavero of Calvary Chapel said that when the church first stepped foot on the Murrieta property in 1995, the organization's officials decided to invest in restoring and improving the property to what it is today. The church’s decision to sell the historical landmark was prompted by a shift in focus for the church, exacerbated by the closure of its facilities during COVID-19, according to the organization.

“Murrieta Hot Springs is an irreplaceable property with tremendous history,” said David Dronet, founder and principal of Olympus Real Estate Group. “We are very thankful to Calvary Chapel for its stewardship of the property over the past quarter-century and are looking forward to revitalizing and re-opening it as a first-class hot spring resort and day spa.”

Dronet added, “Years ago the Murrieta Hot Springs Resort was one of the preeminent health resorts in the country. We’re honored to work with the Murrieta community and our amazing health and wellness team to make the Murrieta Hot Springs Resort a world-class wellness destination once again.”

The Murrieta acquisition adds to the Olympus portfolio of properties that includes the wellness destination, The Springs Resort, in Pagosa Springs, Colorado.