November 21, 2024 9:06 pm
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Developer plans to renovate iconic resort

Photo via Hilton Phoenix Resort at the Peak

By Angela Gonzales | Phoenix Business Journal

Phoenix-based Pivotal Group is investing $100 million to purchase and renovate the Hilton Phoenix Resort at the Peak, an iconic property developed in 1977.

Peak Hotel LLC, an entity linked to Pivotal Group, paid $39.5 million for the property in a sale that closed Oct. 1, according to Tempe-based real estate database Vizzda LLC. Pivotal acquired the resort from New York-based Fortress Investment Group, which had purchased the property for $51.35 million in 2019.

Read the full subscription story from the Phoenix Business Journal.

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