phoenix
Tucson Emerges Strongly from Pandemic, Outlook is Optimistic
Zabada Abouelhana | June 28, 2022
By Zabada N. Abouelhana Prior to the onset of the COVID-19 pandemic, Tucson’s lodging industry was reaching new heights. After eight years of growth spurred by a large-scale expansion at Raytheon Technologies, the relocation of Caterpillar and Hexagon to Tucson’s revitalizing downtown, and growth at the University of Arizona, performance had reached a new peak. This positive trend reportedly continued through the first months of 2020, which included the Tucson Gem & Mineral Show in February; however, the hotel industry begun to be affected by the COVID-19 pandemic mid-March. As travel restrictions were enacted across the w...
Phoenix Development Partners Acquires Historic Chicago Office Building to Redevelop as 350-Key Dual-Branded Hilton Property
Phoenix Development Partners | November 11, 2019
CHICAGO – November 5, 2019 – Phoenix Development Partners (“Phoenix”), as the lead sponsor, in partnership with Green Door Capital, Crowdstreet, Polaris, among other minority investors, announced the acquisition of 226 West Jackson (Chicago), a 238,000sf historic office building. This property will be restored and transformed to become a 350-room dual flag Hilton property (a Canopy by Hilton – 215 rooms - on the upper floors and a Hilton Garden Inn – 135 rooms - on the lower floors). John Mangel, Founder and CEO of Phoenix Development Partners commented that “the restored property will include a new 4,800sf rooftop restaurant...
Phoenix American Hospitality Acquires Seven Select-Service Hotels in $109M Transaction
Phoenix American Hospitality | July 17, 2017
DALLAS (July 17, 2017) - Phoenix American Hospitality, a Dallas-based hotel fund manager, announces the $109M purchase of seven upscale select-service hotels in Arkansas, Louisiana and Florida. This acquisition of one Hilton and six Marriott properties adds 778 rooms to the Phoenix American Hospitality portfolio. So far in 2017 Phoenix American Hospitality has purchased 13 properties totaling 1532 rooms in nine states. These acquisitions were purchased through a joint venture arrangement with Aspect Investment Partners Ltd. The newly acquired properties include: TownePlace Suites by Marriott Fayetteville North/Springdale ALOFT Rogers...
