Host Hotels and Resorts has sold The Camby in Phoenix for $110 million, or nearly $400,000 a key. AZ Big Media has reported that a group affiliated with KHP Capital Partners acquired the Biltmore-area resort. The deal came with $84,450,000 in seller-carried debt. The hotel is located in the Camelback Corridor.
The Camby, Autograph Collection is part of Marriott’s Autograph Collection.
Situated amidst the Biltmore Corridor, 7 miles from Phoenix Sky Harbor International Airport, The Camby is one of Phoenix’s most notable destinations. A dynamic fusion of the professional and playful. There are 277 guest rooms and suites, many with a view of Camelback Mountain. The hotel was a Ritz-Carlton until it changed its branding in 2016.
KHP focuses on the acquisition of existing full-service hotels that can benefit from enhanced branding and management, renovation and repositioning of hotels in need of capital.
The post Phoenix Luxury Hotel Sells for $110M appeared first on Connect CRE.
Host Hotels and Resorts has sold The Camby in Phoenix for $110 million, or nearly $400,000 a key. AZ Big Media has reported that a group affiliated with KHP Capital Partners acquired the Biltmore-area resort. The deal came with $84,450,000 in seller-carried debt. The hotel is located in the Camelback Corridor. The Camby, Autograph Collection …
The post Phoenix Luxury Hotel Sells for $110M appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate,