Thursday, February 9, 2023 / by Juan Grimaldo
Hotel in Phoenix's Camelback corridor sells for $67M; more Valley real estate deals to know
A hotel in Phoenix's Camelback corridor has sold for $67 million.
The AC Hotel Phoenix Biltmore by Marriott at 2811 E. Camelback Road sold to Nella Invest, according to an announcement from the sellers, Holualoa Companies and LaPour Partners. The sellers developed the five-story hotel and the mixed-use project that is part of the Camelback Collective Office Building.
The hotel offers a variety of amenities, including the AC Kitchen & Lounge, a fitness center, business center, outdoor pool, sundry shop, guest laundry and over 5,000 square feet of meeting space.
JLL Hotels & Hospitality represented the sellers in the transaction and Halo Hospitality and DCA Partners advised the buyer.
The sale closed in late January at $423,750 per room, which represents the highest price per room of an upscale select-service hotel in Phoenix history.
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By Angela Gonzales and Brandon Brown - Phoenix Business Journal