Christine Baumgartner Is Engaged to Financier Josh Connor (Exclusive)

Christine Baumgartner and her financier boyfriend, Josh Connor, are engaged, PEOPLE can exclusively confirm.

The couple’s engagement took place on January 26 during what Baumgartner, 50, thought was a simple intimate dinner for two in Santa Barbara. 

But Connor, 49, had something even more romantic — and life-changing — in mind. “It was about to rain, so almost no one else was on the beach when Josh got down on one knee,” a source close to the couple tells PEOPLE.

Those in the couple’s inner circle weren’t surprised by the proposal. “They spent Christmas in New York together last month, where it all began. They are both over the moon and excited for their future together,” the source adds,

The pair was first spotted together in Hawaii during a romantic getaway in July 2023, fueling speculation about their budding romance. A friend of Baumgartner’s told PEOPLE they were dating in January 2024.

In Dec. 2024, a source told PEOPLE, “Christine and Josh’s relationship started as a friendship, so they have a really strong foundation. They share the same values, and she feels so happy and supported in this new relationship.” The source added: “They’re so in love. It’s been a very natural and positive step forward for Christine.”

Baumgartner’s friends have been incredibly supportive of her relationship Connor.

“Anyone who knows Christine knows how she has dedicated her life to her family. They do a lot together, and caring for her kids has remained very focus this whole time,” an insider shares. “Her friends and family have been incredibly supportive of her relationship with Josh, and everyone can tell how happy they are together. Now, everyone wants to know when and where the wedding will be!

The engagement comes a year after Baumgartner finalized her divorce from Kevin Costner on in February 2024d. The former couple was married for 18 years and share three children: Cayden, 17, Hayes, 15, and Grace, 14.