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6/16/26
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Ensemble Investments LLC has obtained $115 mil in first mortgage debt to refinance La Bahia Hotel & Spa, a newly opened 155-room luxury waterfront hotel in Santa Cruz, CA.
La Bahia Hotel & Spa, located at 215 Beach St, opened in September 2025 and delivers a full complement of upscale resort amenities. These include an indoor-outdoor spa, fitness center, outdoor pool and hot tub, three distinct dining concepts, the Pearl Champagne lobby bar and 13.7k sf of state-of-the-art meeting and event space.
The five-year, floating-rate, non-recourse financing was arranged by Sonnenblick-Eichner Company. It was originated by Madison Realty Capital, working with Newbond Holdings.
The property’s unique positioning and the scarcity of comparable luxury hospitality offerings in Santa Cruz County create a distinct competitive advantage, according to Sonnenblick-Eichner Principal David Sonnenblick. “Madison Realty Capital, a seasoned hospitality lender, and Newbond were both drawn to the hotel’s irreplaceable location, exceptional barriers to entry, and its potential to be among the most successful beachfront properties in Northern California,” said Sonnenblick.
Last month, Madison Realty Capital, working with Newbond, also provided affiliates of Ensemble with a $110 mil loan arranged by Sonnenblick-Eichner to refinance the Hotel Nia, a 250-room, full-service luxury hotel in nearby Menlo Park, CA.
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