Terranea Resort is a luxurious oceanfront resort located in Rancho Palos Verdes, California. It boasts stunning views of the Pacific Ocean and Catalina Island, making it a popular destination for travelers seeking a serene and upscale retreat.
But who is the owner of this magnificent resort? Let’s dive into the ownership structure of Terranea Resort.
Ownership Structure
Terranea Resort is owned by a private investment company called Lowe Enterprises Investors. The company is based in Los Angeles and has been in business for over 45 years. They specialize in real estate investment, development, and management.
History of Ownership
The land on which Terranea Resort sits used to be owned by the Marineland of the Pacific theme park. After the park closed in 1987, the land was sold to Golden State Water Company, who planned to use it as a desalination plant.
However, in 1998, Lowe Enterprises acquired the land from Golden State Water Company with plans to develop it into a world-class resort. They spent several years obtaining permits and designing the resort before breaking ground in 2007.
Terranea Resort opened its doors to guests in June 2009 and has since become one of Southern California’s premier luxury destinations.
What Makes Terranea Resort Unique?
Aside from its picturesque location and luxurious amenities, Terranea Resort prides itself on its commitment to sustainability. The resort has implemented several eco-friendly initiatives, including:
- Using solar panels to generate electricity
- Installing low-flow showerheads and faucets to conserve water
- Sourcing local and organic food for its restaurants
- Recycling waste and composting food scraps
In addition to these initiatives, Terranea Resort also supports several community programs, including a local food bank and a marine conservation organization.
Conclusion
Terranea Resort is owned by Lowe Enterprises Investors, a private investment company based in Los Angeles. The resort is unique in its commitment to sustainability and community involvement, making it a popular destination for travelers looking for a luxurious and socially responsible retreat.