Skyline Campbell Hotel Partners, a joint venture with NCSKY, Grace Financial Investment, and The Scotia Group, Ltd. of Tucson (Peter Aranoff, president) sold the Embassy Suites Tucson – Paloma Village hotel at 3110 E Skyline in Tucson for $18.9 million ($158,824 per room / $190 PSF). The 99,330-square-feet hotel, (built 2006) on 6.9 acres, offers guests breathtaking Santa Catalina Mountain views and city views of Tucson, with all the comforts of home.
The spacious suites include WiFi, premium coffee brewer, soft drinks, specialty coffee & snacks, complimentary cooked-to-order breakfast and evening reception. There’s a heated outdoor pool, whirlpool and fully equipped fitness center, BusinessLink™ Center, internet access and flexible meeting rooms, with up to 2,700-square-feet of indoor and outdoor space.
The property is located across from La Encantada Luxury Shopping Center and adjacent Fleming Restaurant. The adjoining 800 acre La Paloma Community includes Westin La Paloma with 487 rooms and 27 holes of golf.
The buyer was Lodging Dynamic Hospitality Group of Provo, UT (Joel Sybrowsky), a nationally recognized and awarding-winning acquirer, developer, and operator of Select-Service and Extended Stay Properties in the United States. Founded in 1992, Lodging Dynamics currently owns and operates 21 premium-brand slecet-service and extended stay hotels, including Marriott, Hilton, IHG, Starwood, and Hyatt.
A Hilton brand, the property will remain an Embassy Suites under new ownership.
Both buyer and seller were self-represented in the transaction.
For additional information log in and see RED Comp #3121.
[mepr-show rules="58038"]Sale date 7/14/2015. Sale price $18,900,000 down payment: $8,831,956.52 and assumption of existing loan(s). APN: 108-11-049D, 050D & 048A[/mepr-show]