By Kristena Hansen | Phoenix Business Journal
The iconic Arizona Biltmore Resort & Spa in Phoenix has been purchased by an arm of the Government of Singapore for an undisclosed amount, officially pulling the troubled property out of a two-year string of bankruptcy proceedings, according to public records.
The deal recorded on Feb. 28 transferred the property to ABR Properties LLC, an entity controlled by GIC Real Estate, the real estate division of the Government of Singapore Investment Corp., according to records in the Maricopa County Recorder’s Office.
Prices of real estate transactions are usually a matter of public record under Arizona law. But in this instance, the price was withheld due to an order by the bankruptcy court.
The sale of the 84-year-old Biltmore marks the fourth time the iconic Phoenix resort’s ownership structure has changed in the past 13 years.
