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Tinder Co-founder Justin Mateen's Bold Investment in Santa Barbara's El Encanto Resort

Robyn Clarke -

A Dive into Luxury Real Estate

Justin Mateen, renowned for co-founding the matchmaking app Tinder, has ventured into the sun-soaked arena of Southern Californian real estate with an audacious \(120 million investment. He has set his sights on transforming the renowned El Encanto resort in Santa Barbara. According to NewsBreak: Local News & Alerts, with a purchase price of \)82.2 million, his plans are nothing short of transformative.

Unveiling El Encanto’s Timeless Charm

Perched on the Riviera, El Encanto boasts serene landscapes and awe-inspiring views of the Pacific Ocean. Guests can indulge in luxurious bungalows and villas, enjoying an exclusive hideaway experience. A notable piece of history, this sprawling seven-acre estate is steeped in Californian heritage, favored by Old Hollywood icons such as Clark Gable and Carole Lombard.

A Visionary Refurbishment Plan

Justin Mateen, in collaboration with his brother Tyler and Culver Capital, aims to restore the resort to its famed glory with a $40 million renovation. The ambitious overhaul, overseen by acclaimed LA architect Mark Rios, will introduce a ‘mystical garden’ and redefine the guest experience while retaining the original character and charm. “We will be pouring love and resources into this iconic property,” Mateen emphasized, aiming to create a world-class destination.

An Insight into Mateen’s Real Estate Endeavors

This venture is one of many that reflects the Mateen brothers’ dedication to transforming Los Angeles’ and its surrounding area’s property landscape. Their portfolio features recent high-profile acquisitions such as the iconic Hollywood Galaxy shopping center and Peterson building near the TCL Chinese Theater. The duo also invested heavily in revitalizing the HHLA entertainment center, underscoring their commitment to community upliftment.

Future Prospects for El Encanto

The Mateens intend to operate El Encanto as a boutique establishment, steering clear of any hospitality chain affiliations. Thoughtfully planned renovations, scheduled for completion in approximately three years, promise to elevate its charm and hospitality. As Justin Mateen pointed out, this is a lifetime commitment aimed at securing a prestigious future for El Encanto. Underlining the importance of maintaining full control over operations, Tyler Mateen remarked, “We want to control what’s on the menu and how the staff are working.”

Despite a downward trend in hotel sales across California, particularly in coastal regions, Justin Mateen’s strategic foresight appears poised to weather the storm—a bet that may well redefine Santa Barbara’s hospitality scene. The unyielding trust in the region’s market resurgence propels the Mateens to leverage opportunities and fortify their hometown’s property scenario.

Their enterprise not only signifies a venture into luxury real estate but also pays homage to Southern California’s rich cultural tapestry. A new chapter for El Encanto unfolds under the Mateens’ stewardship, heralding an inspired vision for this legendary estate.