Southwest Value Partners has purchased two hotels in Scottsdale, Ariz., the 235-key Hilton Scottsdale Resort & Villas and the 378-key DoubleTree Resort by Hilton Paradise Valley. The transaction also includes an 11,000-square-foot office building located adjacent to the Paradise Valley property. The two resorts are within 1.5 miles from each other.
Located at 6333 N. Scottsdale Road, Hilton Scottsdale Resort & Villas is situated on more than 25 acres and includes 45 villas, 190 guestrooms and suites, and three restaurants. Common-area amenities include indoor and outdoor meeting areas, outdoor pool, fitness facility and a spa. The property is located at the southeast corner of Scottsdale and Lincoln roads and is within walking distance of Lincoln Village Shopping Center.
DoubleTree Resort by Hilton Paradise Valley is located on 23 acres, at 5401 N. Scottsdale Road. Common-area amenities include more than 40,000 square feet of indoor and outdoor meeting space, two outdoor pools and a fitness center.
Dimension Development will manage both properties. Southwest Value Partners plans to improve the rooms, meeting areas and grounds at both hotels.
Last year, the firm also landed a $175.5 million construction loan for the development of Amazon’s operations center in Nashville, Tenn. The project is scheduled for completion in 2021.
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February 03, 2020 at 11:03PM
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Southwest Value Partners Buys 2 Phoenix-Area Hilton Resorts - Commercial Property Executive
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