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Brookfield Property Partners LP (NYSE: BPY) (TSX: BPY.UN) said it acquired Vintage Estate, a Napa Valley luxury lifestyle destination property consisting of two hotels with 192 keys and 30,000 square feet of street retail, for $197 million. The announcement was made as part of BPY’s Q1 2016 results released on Friday. The iconic 23-acre Vintage Estate is a popular destination in the epicurean Californian walking town of Yountville, 8.9 miles from downtown Napa, offering one of the Valley’s most exceptional experiences. “Just a leisurely saunter from your guestroom, you’ll find yourself indulging in the nation’s per capita Michelin Star capital of dining, premier wine tasting rooms, intimate spa experiences, lifestyle shopping, romantic art, history and culture of the country’s most lauded wine region without so much as the turn of a car key,” says the Estate. “Here, too, productive meetings and retreats, spectacular special events and glorious wedding celebrations are planned and facilitated to match your vision and exceed your expectations.” The Estate comprises the Villagio Inn & Spa, a stylish Mediterranean luxury hotel and spa reminiscent of a countryside village in Tuscany, listed in Conde Nast Traveler’s 2014 Gold List, and Best Resorts in Northern California, and dubbed by Town & Country as a “pleasure seeker’s heaven” with lavish accommodations complimented by a centerpiece wellness spa; the Vintage Inn, an elegant French country-style boutique hotel blending simple wine country elegance with 19th century romance, featuring 80 newly remodeled spacious guestrooms and cottage-style villas plush in accommodations and amenities; and V Marketplace lifestyle shops, galleries, restaurants, wine cellar, and Michael Chiarello’s NapaStyle and Bottega farm-to-table dining in the historic 140-year-old Groezinger Winery. villagio_inn_spaThe Estate was previously owned by the Egan, Ghilotti  and Sandbach families, says Jennifer Huffman, a reporter for the Napa Valley Register, adding that this could be “the largest private sale of a Napa County lodging and shopping property.” Brookfield Property Partners (BPY) is one of the world’s largest commercial real estate companies, with over $65 billion in total assets. BPY are leading owners, operators and investors in commercial property assets, with a diversified portfolio that includes over 150 premier office properties and over 120 best-in-class retail malls around the world. The group also hold interests in multifamily, triple net lease, industrial, hospitality, and self-storage assets.]]>