JLL’s Hotels and Hospitality group led the sales efforts and secured acquisition financing for the 130-suite hotel
News release
11 July 2024
Home2 Suites by Hilton sells in Scottsdale, Arizona
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WASHINGTON, D.C., July 11, 2024 – JLL Hotels & Hospitality group announced today that it arranged the sale and financing of Home2 Suites by Hilton North Scottsdale near Mayo Clinic, a 130-room hotel located in Scottsdale, Arizona.
JLL represented the seller, and working on behalf of the new owner, JLL also procured the acquisition loan from a regional credit union.
Built in December 2022, the hotel is designed to provide a comfortable and convenient extended-stay experience, featuring a range of amenities, including a fitness center, outdoor pool, complimentary high-speed Wi-Fi, business center, EV charging, pet-friendly accommodations and 500 square feet of flexible meeting space. Additionally, the guestrooms in the hotel offer separate living and sleeping areas, functional living space, in-room flat-screen TVs and high-speed internet access.
Conveniently located at 20001 N Scottsdale Rd, the suite hotel is just one mile away from restaurants and shopping, and only 2.1 miles from Grayhawk Golf Club. Within a four-mile radius, guests will also have easy access to the Scottsdale Airport SCF, Mayo Clinic Hospital, Penske Racing Museum, and the Nationwide Insurance Regional Office.
The JLL Investment Sales and Advisory team was led by Managing Director Ketan Patel and Melvin Chu.
"We are thrilled to have successfully facilitated the sale of the Home2 Suites by Hilton in Scottsdale," said Patel. "The remarkable growth and recovery in Scottsdale further solidify its position as a dynamic destination for hotel investors."
Chu added, "This property presented an exceptional chance to invest in a well-established hotel with a strong track record and capitalize on Scottsdale's reputation as a top-tier travel market. We are honored for the opportunity to represent the seller on this transaction and are excited for the future of this hotel."
Managing Director Adrienne Andrews spearheaded the JLL Debt Advisory team.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.