Are you curious about the ownership of Terranea Resort in Palos Verdes? This luxurious resort is located on the stunning coastline of Southern California, and it’s no surprise that many people are interested in who owns it. Let’s dive into the details and find out.
Overview of Terranea Resort
Terranea Resort is a world-class destination that offers guests stunning ocean views, luxurious accommodations, and unparalleled hospitality. The resort spans 102 acres of prime coastal real estate and boasts 582 rooms, suites, bungalows, casitas, and villas.
The History of Terranea Resort
The history of Terranea Resort dates back to the early 1900s when it was owned by Frank Vanderlip, a prominent banker and one of the founding fathers of Palos Verdes. Vanderlip built a magnificent mansion on the property that he named “The Terraces.” Over time, The Terraces fell into disrepair until it was eventually sold to developer Rob Lowe in the early 2000s.
Lowe envisioned transforming The Terraces into a world-class resort that would rival some of the best destinations in the world. He partnered with Destination Hotels & Resorts to bring his vision to life, and together they created what is now known as Terranea Resort.
The Current Ownership of Terranea Resort
Today, Terranea Resort is owned by Lowe Enterprises Inc., a Los Angeles-based investment firm that specializes in real estate development. Lowe Enterprises Inc. is led by Robert J. Lowe Jr., who also serves as Chairman and CEO.
In addition to owning Terranea Resort, Lowe Enterprises Inc. has a diverse portfolio of properties that includes hotels, resorts, golf courses, residential communities, commercial properties, and more.
Conclusion
Terranea Resort is an iconic property that has a long and storied history. Today, it is owned and operated by Lowe Enterprises Inc., a leading real estate investment firm. Whether you’re looking to stay at the resort or simply curious about its ownership, Terranea Resort is a destination that should be on your radar.
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