PHOENIX — Holualoa Cos. and LaPour Partners have completed the disposition of the AC Hotel Phoenix Biltmore by Marriott in Phoenix. Nella Invest bought the asset for $67.8 million, or $423,750 per room.
Located at 2811 E. Camelback Road, the five-story hotel features 160 rooms in a mix of traditional rooms and suites. Amenities include AC Kitchen & Lounge, a fitness center, business center, outdoor pool, sundry shop, guest laundry and more than 5,000 square feet of meeting space.
The hotel was developed as part of a mixed-use project along with the Camelback Collective Office Building, which sold in July 2022. Co-developers Holualoa and LaPour Partners purchased the site in October 2016.
Melvin Chu, John Strauss and Ben Geelan of JLL Hotels & Hospitality represented the seller, with Halo Hospitality and DCA Partners as advisors to the buyer. Azul Hospitality Group operates the hotel.