Glacier House Sells 289-Key AZ Portfolio, Collects $80M

Glacier House Hotels sold a three-property, 289-room Arizona hotel portfolio to different buyers, walking away from the deals with a combined $80.1 million. Kyle Stevenson and Spencer Scott with Berkadia represented the Scottsdale, AZ-headquartered Glacier House in the transactions.

The portfolio included:

• The 107-room Element Chandler Fashion Center, 44 S. Chandler Village Dr., Chandler, AZ. Trimark Property Group was the buyer.

• The 117-room Element by Westin Sedona, 6601 SR 170, Sedona, AZ. Braxton Development acquired the just-completed property.

• The 65-room Arroyo Roble Hotel & Creekside Villas, 400 N. SR 89A, Sedona, AZ. Ensemble Real Estate Solutions was the buyer.

The sale is a continuation of Glacier House’s plan to dispose of a 15-property portfolio, which is being marketed by the Berkadia team. “Each of these hotels is in an enviable position, and particularly those located in Sedona with annual property specific Occupancy and ADRs trending over 80% and $200, respectively,” Scott said.

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