Southwest Value Partners based in Carmel Valley with offices in Phoenix has acquired two hotels in Arizona for an undisclosed price.
Led by co-managing partners Mark Schlossberg and Cary Mack, the company bought the 235-room Hilton Scottsdale Resort & Villas and the 378-room Double Tree Resort by Hilton Paradise Valley Scottsdale.
Both hotels are in Scottsdale.
The deal also included an 11,000 square-foot office building next to the Double Tree Resort.
“The Phoenix/Scottsdale area is a vibrant community that is experiencing tremendous sustained growth,” Schlossberg and Mack said in a joint statement announcing the acquisition.
“Both the Hilton Scottsdale and the Doubletree Paradise Valley are exceptionally well-located in close proximity to restaurants, entertainment and shopping,” they said. “We look forward to making numerous quality upgrades to the guestrooms, meeting space and grounds and landscaping at both hotels that will further enhance the guest experience and solidify each property as a top resort destination.”
The Hilton Scottsdale Resort & Villas has 45 villas, 190 guestrooms and suites, three restaurants, more than 28,000 square feet of indoor and outdoor meeting space, an outdoor pool, a fitness center and on-site spa.
The Double Tree Resort by Hilton Paradise Valle Scottsdale has more than 40,000 square feet of indoor and outdoor meeting space, two heated pools and a fitness center.
Dimension Development will manage the hotels.
Real estate reporter Ray Huard may be reached at email@example.com or 858-277-8904.