The San Manuel Investment Authority, through its affiliated entities, has acquired an ownership interest in the newly renovated Waldorf Astoria Monarch Beach Resort & Club in Dana Point, Calif. The San Manuel Band of Mission Indians partnered with Ohana Real Estate Investors as co-owners of the coastal resort.
The Waldorf Astoria Monarch Beach will be the Tribe’s latest addition to its expanding resort portfolio. SMIA’s investment in Waldorf Astoria Monarch Beach consists of an approximately 40 percent interest in the property with the option to increase its ownership through one or more future transactions.
“Investing in a luxury destination resort such as Waldorf Astoria Monarch Beach represents another milestone for our Tribe, enabling us to continue executing our long-term diversification strategy,” SMBMI Chairwoman Lynn Valbuena said in a statement. “The stunning coastal setting, along with its exceptional guest service and amenities, are features that our Yaamava’ and Palms guests will enjoy. We are excited to partner with Ohana Real Estate Investors and impressed with Hilton and Waldorf Astoria’s strategic repositioning of the property over recent years.”
Waldorf Astoria Monarch Beach has 400 newly refreshed guestrooms and suites, a private beach club, seven dining destinations including Michael Mina’s Bourbon Steak, Waldorf Astoria Spa & Salon, three pools, indoor and outdoor meeting and event spaces and an 18-hole championship golf course.
SMBMI owns and operates Yaamava’ Resort & Casino at San Manuel on the Tribe’s Reservation in Highland, Calif. A governmental instrumentality of the Tribe, the San Manuel Gaming & Hospitality Authority, became the first Native American owners and operators of a casino resort in Las Vegas with the purchase of Palms Casino Resort which reopened under the SMGHA’s ownership in April 2022.
Jefferies and Berkadia Real Estate Advisors acted as financial advisors, and Goodwin Procter acted as legal counsel for San Manuel in relation to this investment.