by Mia Taylor
Last updated: 8:00 AM ET, Wed October 3, 2018
A Mexican-based asset management firm has purchased the iconic Costa Baja resort outside of La Paz and is embarking on a $5 million renovation.
The property, which includes a boutique collection of oceanfront and hillside residences, as well as hotels, was purchased by Ascendancy, a company that holds real estate investments throughout Mexico and the Caribbean.
As part of the new ownership, Costa Baja has been renamed Puerta Cortes, the company said in a statement.
"Puerta Cortés is an exclusive hideaway for those seeking unparalleled, coastal living and adventure in one of the most privileged locations in the world," Antonio Davila, president of Ascendancy, said in a statement. "When I first discovered the area years ago, I was dazzled by its beauty, spectacular scenery and extraordinary amenities. I knew I had to live here myself and further build on the awe-inspiring foundation set forth by the property's previous owners."
Purchased by Ascendancy in February, the property's multi-million-dollar upgrades will include a refresh of its El Cortés Golf Club and Blue Cortés Beach Club, with additional plans to launch more fine dining restaurants onsite as well.
In addition to two residential communities, the property includes Pueblito Marinero, an inner and outer marina with capacity for 250 vessels from 30 to 225 feet. In recent years, the marina has been frequented by mega yachts including the Seven Seas, Venus, Atessa IV, and Princess Yachts.
Puerta Cortés is also home to the only Gary Player Signature Golf Course in Mexico, offering sweeping views of the Sea of Cortez from 17 of the 18 holes. The signature number 14 hole is one of the longest par fives in Mexico, with players shooting from an elevated cliff.
Located along the white, sandy shore, just steps from the Sea of Cortez, residents and guests can spend days at Puerta Cortes soaking in the sun by the infinity pool, swimming or relaxing in the Jacuzzi, or enjoying a game of tennis or a workout in the world-class fitness studio.
"Part of what makes our resort and residential destination so extraordinary is our authenticity and community feel," added Davila. "I have met so many well-traveled visitors and residents who have seen and experienced some of the most incredible locations in the world and have decided Puerta Cortés is where they want to be. It's an exciting time for La Paz and our property as we continue to serve as area leaders showcasing a sustainable and successful growth model as tourism continues to soar."
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