Among the noteworthy deals of the past week was Summit Hotel
Properties' $29 million acquisition of the Residence Inn Scottsdale North.
The 120-room Residence Inn, sold by Breit Falcon Property
Owner, last sold in 2019 for $17.6 million. Summit expects the hotel to yield
between an 8% and 8.5% cap rate on full year estimated 2023 net operating
income.
To download an Excel file about this deal and many more from
the past week, click here.