TUCSON, Ariz. – April 25, 2023 – CBRE has facilitated the sale of the JW Marriott Tucson Starr Pass Resort & Spa, a 575-key resort located at 3800 West Starr Pass Blvd., in Tucson,Arizona. Southwest Value Partners purchased the property for $110 million ($191,304,348 per room).
Christian Charre, Jennifer Bergamo, Paul Weimer, and Jennifer Jin with CBRE Hotels represented the seller, Fortress Investment Group, in the transaction.
“We are pleased to have found a buyer who understands Tucson and everything that this unique resort has to offer but will also take the JW Marriott to its next chapter through a renovation,” said Mr. Charre.
The JW Marriott Tucson Starr Pass Resort & Spa features three onsite nine-hole golf course, outdoor multi-level pools with lazy river and waterslide, private cabanas, hot tub, spa, and fitness center. The property also has 83,732 square feet of meeting and event space, including outdoor space, to host up to 3,300 guests.
“CBRE Hotels secured a strategic buyer for this exclusive off-market asset through a highly curated sales process,” said Ms. Bergamo.
In the previous release the sale price shown of $112 million included $2 million in personal property. The sale is still the top recorded hotel sale in the Tucson market.
To learn more, see RED Comp #10611.