The investment arm of billionaire Larry Ellison has reportedly acquired the Epiphany Hotel in Palo Alto for $71.6M. The 86-room, high-end hotel opened in 2014 at the site of the Casa Olga. Hotel operator JDV and architecture firm Steinberg renovated the property to give it a hip, tech-inspired update. A bar and restaurant named Lure + Till is included with the property. Ellison has not been shy with investing in trophy properties, as he famously paid an estimated $500M for the majority of the Hawaiian island of Lanai in 2012. [SFBT]
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