SOURCE: Ensemble Hotel Partners

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March 17, 2014 13:16 ET

Ensemble Hotel Partners Announces Creation of $75M Private Equity Fund

LONG BEACH, CA--(Marketwired - March 17, 2014) - Ensemble Hotel Partners (Ensemble) has partnered with Mosaic Investment Partners (Mosaic) in the creation of the Mosaic Ensemble Hospitality Fund, LP, a $75M private equity fund designed to target value-add hotel investment opportunities in the U.S.

The collaboration between Ensemble and Mosaic will serve as an efficient investment vehicle that utilizes both partners' unique strengths in maximizing value in real estate investments. Ensemble provides the hotel and real estate expertise necessary for the fund to directly source, develop and asset manage its hotel investments while Mosaic provides the expertise in managing private equity investment vehicles. The Fund launched in late 2013 and recently closed its first acquisition, Bernardus Lodge, a 57-room luxury resort and spa situated on 25 acres of pristine land in Carmel Valley, California. Ensemble and Mosaic acquired the resort from winery developer Bernardus Pon, who opened the namesake property in 1999.

"We believe that our hotel investment and development expertise combined with Mosaic's best-in-class investment management tools make for a strong and efficient investment vehicle," said Brian Ehrlich, Chief Investment Officer of Ensemble. "The recent acquisition of Bernardus Lodge is an exciting investment opportunity to kick-off this unique collaboration between Ensemble and Mosaic and we look forward to moving forward with more exciting developments and value-add acquisitions in our pipeline."

Ensemble expects to fully deploy all equity in the fund over a 12-24 month period, across 6 to 8 different hotel properties, including a mix of ground-up development and acquisition/remodel opportunities.

About Ensemble Hotel Partners

Ensemble Hotel Partners is a wholly-owned subsidiary of Ensemble Investments, LLC, which focuses on investment, development and asset management of branded and independent hotels in the United States. Ensemble Investments, LLC invests in a wide range of commercial real estate ventures ranging from healthcare, office, urban residential and hospitality. The company is based in Long Beach, California with a team of fully dedicated and innovative professionals committed to the hotel industry.

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