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Phoenix & Southwest  + Hospitality  | 

Scottsdale Buyer Pays $37M for Hilton Phoenix Airport

Caliber-The Wealth Development Co. and investor-owned 47th Street Phoenix Airport LLC acquired the Hilton Phoenix Airport Hotel for $37.7 million from Massachusetts Mutual Life Insurance. The acquisition means Caliber owns the majority of full-service hotel rooms near Phoenix Sky Harbor International Airport, including Holiday Inn & Suites Phoenix Airport and the Crowne Plaza Phoenix Airport.

The 259-room Hilton at 2435 S. 47th St. in Phoenix underwent an $8 million renovation last year. The new owners will invest an additional $750,000 to upgrade the restaurant, bar and other common areas, in addition to parking lot improvements.

Caliber has been on a CRE spree in Arizona, having recently acquired the Hilton Tucson East for $9 million, and working on a $14 million townhome development in Tempe.

For comments, questions or concerns, please contact Amy Sorter

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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