Improvements and renovations expected at both properties
By Brandon Brown | Phoenix Business Journal
A real estate investment firm founded by Phoenix Suns owner Robert Sarver has purchased two of the largest resorts in the Scottsdale area.
San Diego-based Southwest Value Partners, which has offices in Scottsdale and Nashville, purchased the Hilton Scottsdale Resort & Villas and the Doubletree Resort by Hilton Paradise Valley-Scottsdale on Jan. 31, according to real estate database Vizzda.
Both properties were sold by San Francisco-based real estate private equity firm the Rockpoint Group LLC.
The 378-room Doubletree Resort sold for $100 million, and the 235-key Hilton Scottsdale Resort sold for $62 million.