The Adero Scottsdale Resort has a new owner. The 177-room property in Scottsdale, which was known as the CopperWynd Resort before a $100 million renovation and rebrand in the late 2010s, was acquired by LionGrove for $57.5 million.

The Phoenix Business Journal reports Adero was previously owned by Palisades Resorts but had been in receivership since December 2023. A Maricopa County judge placed the resort under the control of a receiver after Palisades Resorts failed to make its monthly loan payments for several months in 2023. Starting in May 2024, Berkadia started marketing the property. After several rounds of bidding, the offer from LionGrove was accepted. Nearly all the proceeds of the sale went to cover the outstanding loan on the property. LionGrove financed the acquisition with a $52.8 million loan from Värde.

Amenities at Adero include two heated pools, a sundeck, a 5,000-square-foot wellness studio. It also has a spa, restaurant and more than 16,800 square feet of event spaces.