Among
the noteworthy deals of the past week was Trinity Investments and Partners
Group acquiring the Scottsdale Plaza Resort & Villas.
PARADISE VALLEY, Arizona – A joint venture between Partners
Group and Trinity Investments has acquired the 404-key Scottsdale Plaza Resort
& Villas in Paradise Valley, Arizona, from PE firm Rockpoint and hotel
owner-operator Highgate, which were operating as “7200 Scottsdale Rd Owner LP.”
The terms of the deal were not disclosed.
The new owners have plans for a significant capital
investment in the property and the transaction also includes the potential for
expansion with entitlements secured by the seller.
As part of its acquisition strategy, Trinity will execute a
targeted capital plan intended to create a cohesive resort experience,
specifically catering to large groups, friends and family, and premium leisure
travelers. The resort, which is located on nearly 40 acres of land and is
directly adjacent to The Ritz-Carlton Hotel & Residences, Paradise Valley,
will remain unencumbered of brand and will continue to be managed by Highgate.
Click here to read more about this deal.
To download our list of deals from the past week in Excel
format, click here.