UC system buys Ritz-Carlton hotel in Half Moon Bay for $193 million
The University of California system bought the Ritz-Carlton hotel in Half Moon Bay for $193 million last month, according to San Mateo County records. The property was purchased by an affiliate company based at the Oakland headquarters of the University of California Office of the President, as first reported by local news outlet Coastside News. The university did not disclose its plans for the oceanfront luxury resort. A UC spokesperson said the Board of Regents has delegated investment authority to the university’s chief investment officer within set asset classes and risk limits. The board, the spokesperson said, does not approve individual real estate transactions. “UC Investments operates with fiduciary independence in managing the university’s investment assets,” the spokesperson said. “UC investment decisions are not directed by the UC Board of Regents or the UC Office of the President.” UC Investments, led by chief investment officer Jagdeep Singh Bachher, manages the university system’s investment funds. At present, the portfolio of investments totals approximately $236 billion. This includes retirement, endowment and cash assets. As of June 2025, about 5.5% of the university’s assets were invested in real estate. About a year ago, UC Investments bought the 331-room Residence Inn Berkeley for $175.8
