Napa Valley’s historic Silverado Resort and Spa sold

The Silverado Resort and Spa, a luxury resort and longtime staple in Napa Valley, has new owners.

Affiliates of Colorado-based KSL Capital Partners LLC and Arcade Capital LLC announced in a Feb. 1 joint press release that they have acquired the property. Terms were not disclosed.

The Napa Valley Register reported that the sellers include golfer Johnny Miller, Tim Wall, Ken Leister, J. Roger Kent and resort managing director John Evans, who has departed the Silverado as a result of the acquisition, according to the newspaper. Evans first joined the Silverado in May 2010, according to his LinkedIn profile. He could not be reached for comment.

Todd Shallan will take over as the resort’s managing director, according to KSL Resorts, which will manage the resort.

Shallan, a 30-year veteran in the hospitality industry, most recently served as chief operating officer for the hospitality division of Denver-based Alterra Mountain Company. Shallan’s previous roles have included serving as general manager at Hotel del Coronado, situated across from the San Diego Bay; and Claremont Resort, Club and Spa in Oakland.

The 449-room Silverado Resort and Spa is situated on 300 acres, with a number of restaurants, golf courses, and tennis and bocce ball courts on the property. It has a 16,000-square-foot spa and fitness center, and 70,000 square feet of indoor and outdoor event space, according to the release. The property was built in 1870 as a private estate.

KSL Capital LLC is a private equity firm specializing in travel and leisure enterprises, and Arcade Capital is a private real estate investment firm that specializes in the hotel management and global wellness space, according to the release.

KSL Resorts is an independent third-party management company that manages several properties on behalf of KSL Capital Partners and other third-party owners, according to a spokesperson for KSL Capital.  Although the two companies share a similar name, they are independent of each other, according to the spokesperson.

“At KSL (Capital), we take great pride in having had the opportunity of owning and investing in some of the most storied hotels and resorts in the world,” Michael Mohapp, principal at KSL Capital, stated in the release. “Our goal is to preserve what makes each asset unique, while at the same time making new investments to meet the expectations of today’s travelers.”

Mohapp added that KSL Capital looks “forward to working with the broader Silverado community in enhancing the resort for the benefit of its guests and its neighbors.”

Will Obeid, founder and principal of Arcade Capital, stated in the announcement that his company looks forward to partnering with KSL Capital, which he said is known for its expertise with “complex resort properties of this nature.”

The Silverado has changed hands a number of times over the years.

According to the Napa Valley Register’s previous reporting, AMFAC Corp. bought the Silverado in the late 1960s and developed it into a resort. In 1984, Robert Meyer bought the property for $20 million and five years later sold it for $110 million to Isao Okawa, a former venture capitalist and head of Sega Corp. Okawa died in 2001, leaving the Silverado to his son, Setsuo Okawa, who in 2010 sold it to Miller, Wall, Leister, Kent and Evans. The partners bought the Silverado at an undisclosed price.

Editor’s Note: This story has been updated. An earlier version misspelled the name of KSL principal Michael Mohapp.

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