Shenzhen New World Group, a Chinese development company, has purchased the Los Angeles Marriott Downtown Hotel, which had filed for bankruptcy last year.

The hotel was sold for $63 million by Leeward Strategic Properties, which took ownership of the hotel after it was foreclosed on last year. The previous owner, local financier Ezri Namvar, had purchased the hotel for $109 million in 2007 and owned it until it was foreclosed on in August.

The new owner plans to invest $12 million to $13 million for renovations and upgrades. The strategic goal is make the hotel energy efficient by qualifying for environmental standards and to upgrade the hospitality amenities to five-star level.

The purchase will save 400 existing jobs downtown, and could create hundreds of additional jobs during and after the upgrades, the company said.

“We appreciate the Shenzhen New World Group investment in our community and look forward to new investments in L.A. County in the future,” said Vance Baugham, president of the World Trade Center of Los Angeles and Long Beach, which facilitated the acquisition.

Shenzhen New World Group is a privately held commercial real estate developer that has diversified into retail, hotel management, information technology and restaurants. Based in the city of Shenzhen, it has assets of $292 million.

John Strauss, executive vice president of Jones Lang LaSalle Hotels, led the team that represented the seller, Leeward Strategic Properties.