Monterey Tide’s Buy Supports Ascendant’s Approach to Lifestyle Hotel Assets

Ascendant Capital Partners in partnership with Centerbridge Partners recently acquired Monterey Tides, a 196-room waterfront boutique hotel in Monterey, CA from Southwest Value Partners. Monterey Tides, located on Sand Dunes Drive, is Monterey’s only hotel with a privately owned beachfront, spanning almost 600 linear feet.

The transaction’s purchase price was undisclosed. Highgate has been engaged by the new owners to operate Monterey Tides.

“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,” says Alex Halpern, co-president and chief investment officer of Ascendant. “Situated on irreplaceable oceanfront property, Monterey Tides has for many years been beloved by those who visit for pleasure and business with an attractive range of amenities and convenient access to attractions on California’s central coast.”

The hotel features 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.