Holualoa and LaPour Partners announced the sale of the AC Hotel Phoenix Biltmore by Marriott for $67.8 million to Nella Invest.  That comes out to $423,750 per room.

The five-story hotel, located in the Biltmore area of Phoenix, offers a variety of amenities, including the AC Kitchen & Lounge, a fitness center, business center, outdoor pool, sundry shop, guest laundry and over 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 of 2022. The land was purchased by co-developers Holualoa and LaPour Partners in October 2016. The 160-room hotel opened its doors two years later. 

JLL Hotels & Hospitality represented the sellers in the sale, with Halo Hospitality and DCA Partners as advisors to the buyer. The property was managed by the Azul Hospitality Group.