(Hilton Scottsdale Resort & Villas Photo)
PHOENIX — An investment firm co-founded by Phoenix Suns majority owner Robert Sarver reportedly recently purchased two Scottsdale resorts with plans to upgrade the properties.
The firm plans to improve rooms, meeting areas and grounds for the resorts, according to CPE.
The resorts are less than 2 miles from each other along Scottsdale Road in the heart of the city’s commercial area.
The Hilton Scottsdale Resort & Villas has 190 guest rooms and suites, 45 villas, three restaurants and a spa.
The DoubleTree Resort by Hilton Paradise Valley is the larger property, featuring more than 370 guest rooms and 40,000 square feet of meeting space.
Southwest Value Partners also purchased an 11,000-square-foot office building adjacent to the DoubleTree properties, according to CPE.
The investment firm has bought more than 30 properties, according to its website.
That includes the 487-room Westin La Paloma Resort & Spa in Tucson and several commercial and real estate properties in the Valley.