IRVINE, CALIF. — A real estate fund managed by Ares has made a strategic investment in Montage Hotels & Resorts. The partnership will allow Ares to purchase a minority stake of up to 20 percent in Montage.
Ares will also provide up to $200 million in future growth capital to Montage. The funds will focus on the continued expansion of the Montage- and Pendry-branded hotels and resorts portfolio.
Jay Glaubach, a managing director at Ares Management and co-portfolio manager of Ares’ opportunistic real estate funds, will join Montage’s Board of Directors. Dentons served as counsel to Montage Hotels & Resorts.
This is Ares’ second investment with Irvine-based Montage. It had previously made an investment in Pendry San Diego. This property is part of the company’s new luxury lifestyle brand, Pendry Hotels. The new hotel will debut this fall in San Diego’s Gaslamp District.