Ascendant Capital Partners, in partnership with Centerbridge Partners, has acquired Monterey Tides, a 196-room waterfront boutique hotel in Monterey, Calif., from Southwest Value Partners. The financial terms were not disclosed.
Monterey Tides, located on Sand Dunes Drive, is Monterey’s only hotel with a privately owned beachfront, spanning almost 600 feet. The hotel features well-appointed guestrooms and a range of amenities, including restaurants and bars, a heated outdoor pool and hot tub, 9,000 square feet of ocean-view meeting space, and direct access to the Monterey Peninsula Recreational Trail.
“The acquisition of Monterey Tides, one of the gems of the Monterey community, builds on our firm’s extensive hospitality sector experience and platform-based approach to acquiring high-potential lifestyle hotel assets,” said Alex Halpern, co-president and CIO of Ascendant. “Situated on irreplaceable oceanfront property, Monterey Tides has for many years been b
