Manka’s Inverness Lodge owners Margaret Grade and Daniel DeLong have purchased the historic Olema Inn, which was foreclosed last August and has been closed of late. Ms. Grade and Mr. DeLong said they plan to have the bed and breakfast and restaurant up and running again “as soon as possible.”

While the new owners plan to preserve the distinct personality of the property—which, like Manka’s, “comes with its own history and character,” as Ms. Grade…