128-Room Sonesta ES Suites Tucson Sells for $3.5M to New Mexico Hospitality Operator

Sonesta ES Suites
TUCSON, AZ (November 21, 2025) — The Sonesta ES Suites Tucson, a 128-suite extended-stay hotel located at 6477 E. Speedway Blvd., has been sold for $3,5 million ($27,343 per room) to an Albuquerque-based hospitality operator.  The property closed on November 14, 2025. The buyer is Hospitality Management Services c/o Yogash Kumar of New Mexico, an experienced hotel owner and operator who consults and manages multiple hospitality assets across the region.
While the price per key is notably low by industry standards, Kumar said the property was in satisfactory condition at the time of sale and viewed the hotel as an excellent value and long-term opportunity. The buyer intends to continue operating the hotel in its current extended-stay format and sees operational efficiencies and market repositioning as the primary drivers of upside, rather than any need for a significant renovation.
 The seller, Service Properties Trust (SVC)—a publicly traded lodging and service-focused real estate investment trust—has been actively deleveraging its portfolio over the past several years. As part of this national strategy, SVC has been divesting older or non-core Sonesta-branded hotels, particularly those in secondary markets or with extended-stay product types. These streamlined dispositions often emphasize balance-sheet simplification and exit velocity over maximum pricing, leading to accelerated closings at below-replacement-cost values.
The Tucson Sonesta ES Suites fits that broader profile. Built in the 1980s and converted through several flags before joining the Sonesta family, the hotel occupies a deep site on Tucson’s east side retail corridor. It includes one- and two-bedroom suites with kitchens, an outdoor pool, and extended-stay amenities. Despite its age, the property has maintained steady occupancy under Sonesta and remains well-positioned for travelers seeking longer-term accommodations in the mid-market segment.
At $27K per room, the acquisition offers a below-market basis, giving the buyer significant room for operational enhancements or future repositioning. Extended-stay hotels in similar vintage and secondary markets have traded between $25K and $45K per key nationwide, making this transaction consistent with current national pricing for stabilized but older inventory—particularly when sold by large REITs conducting strategic portfolio reductions.


CBRE Handles Sale of Camden Copper Square Apartments in Phoenix for $77 Million

Camden Copper Square ApartmentsColRich expands downtown Phoenix portfolio with second acquisition in 2025

PHOENIX  (November 21, 2025)  – CBRE negotiated the sale of Camden Copper Square, a 332-unit multifamily community located in downtown Phoenix. CBRE’s Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented the seller. San Diego-based investment firm ColRich acquired the community for $77 million. Trevor Breaux and Troy Tegeler of CBRE Debt & Structured Finance practice arranged financing for the buyer.

“The community is a prominent asset in Downtown Phoenix with a unique footprint and direct access to the submarket’s employment and nightlife amenities,” said CBRE’s Pesch, vice chairman at CBRE. “Well-located assets with distinct resident appeal are positioned to outperform in the submarket.”

The property’s expansive site plan is divided by 9th Street, with two access points from Van Buren Street and 9th Street. The secure, gated community includes two parking structures, with residents parking on their floor and having direct access to their building. Community amenities include two swimming pool areas with barbecue grills and seating, an outdoor lounge with panoramic views, indoor coworking spaces, a 24-hour fitness center, and a dog park.

ColRich is a real estate, construction, and investment firm focused on value-add residential real estate in strategic locations throughout the Eastern, Western and South Central U.S. ColRich owns 13 multifamily communities throughout metro Phoenix, and this is the company’s second downtown Phoenix acquisition in 2025.

“The community fits perfectly into ColRich’s long-term multifamily strategy, acquiring assets with good floor plans near major employment and at an attractive basis,” said ColRich CEO Danny Gabriel. “Buying a well-maintained asset from a quality operator, along with CBRE’s expertise on the transaction side, was critical in the success of this transaction.”

Camden Property Trust, an S&P 500 Company, is a real estate company primarily engaged in the ownership, management, development, redevelopment, acquisition, and construction of multifamily apartment communities. Camden owns and operates 171 properties totaling approximately 58,000 apartment homes across the U.S.

 



ULI Arizona to spotlight 10 critical issues shaping the Valley’s future

Phoenix skyline at sunset

PHOENIX, Ariz. (November 21, 2025) – Urban Land Institute Arizona, in partnership with Ten Across, will convene some of the region’s most influential voices on Tuesday, December 2, 2025, for a fast-paced program tackling the ten most pressing issues facing Metro Phoenix.

From housing and water to energy and public health, the event, “It’s All Connected: Ten Critical Issues. Ten Perspectives. One Valley,” will feature one-on-one conversations with leaders whose decisions and insights are shaping the Valley’s trajectory.

Hosted at the ASU Walton Center for Planetary Health, 777 E. University Drive, Tempe, from 7:30 to 10:00 a.m., the program is designed to inform, entertain, and spark innovative ideas about the interconnected challenges defining the region’s future.

Moderating the event will be Wellington “Duke” Reiter, FAIA, Senior Advisor to the President, ASU; Executive Director, University City Exchange; Founder and Executive Director, Ten Across.

Issues and speakers will include:

  • High-End Manufacturing & Data Centers: Brian Harrison, Founder and Managing Partner, Rolling Creek Associates; Former President of TSMC – Arizona;
  • Development: Charley Freericks, President, Arizona, Howard Hughes;
  • Energy: Bobby Olsen, Associate General Manager & Chief Power System Executive, SRP;
  • Heat: Jenni Vanos, Associate Professor, Director of the Human Biometeorology Lab, School of Sustainability, ASU;
  • Housing: Ryan Johnson, Co-Founder and Chief Executive Officer, Culdesac;
  • Land Economics: Greg Vogel, Founder and Chief Executive Officer, Land Advisors Organization;
  • Place: Lorenzo Perez, Co-Founder and Principal, Venue Projects;
  • Public Health: Joe Keeper, Chief Financial Officer, COPA Health;
  • Transportation: John Bullen, Interim Executive Director and Chief Transportation Officer, MAG;
  • Water: Sarah Porter, Director, Kyl Center for Water Policy, Morrison Institute, ASU.

For more information and to register, visit here.