Ensemble, a value-add investor based in Long Beach, CA, is working on a renovation plan that will include refurbishment of the guest rooms, improvements to the pool deck and a new conference center for corporate training and meetings. Ensemble also owns the Coast Hotel in Long Beach and previously owned the Hilton Long Beach and the Long Beach World Trade Center.
"While the Coast Santa Cruz Hotel has been a landmark for the past 40 years, with loyal guests who return year after year, we see opportunities to enhance the amenities and attract the regional business conference market, especially during the winter months," says Ensemble SVP Ed Proenza.
Ensemble Hotel Partners is a division of Phoenix-based Ensemble Investments, a real estate acquisition and development company. Ensemble's property portfolio exceeds two million square feet in Arizona, Southern California and Nevada.
AEW Capital Management, a subsidiary of IXIS Asset Management, provides real estate investment management services to investors worldwide. AEW and affiliates manage more than $33 billion of real estate assets and securities on behalf of many of institutions and private investors.
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