HSL Properties acquired an Arizona hotel portfolio comprising a 180-room Sheraton and 129-room Courtyard by Marriott hotels in Mesa for a combined price of $50.2 mil. The portfolio also includes 15,000 square feet of retail space. 

The hotels are adjacent to Sloan Park, the Chicago Cubs’ spring training home, and 10 minutes from Phoenix Sky Harbor International Airport. They also provide quick access to ASU, Tempe Town Lake, Tempe Marketplace, Banner Desert Medical Center, and Old Town Scottsdale. 

The seller, Power Hotel Group, was represented by Bill Murney and Mike Montoya with Cushman & Wakefield’s Western Hospitality Advisory Group in Phoenix. 

Cushman & Wakefield’s Murney added, “The Sheraton hotel will undergo a multi-million-dollar renovation while The Courtyard opened in the fall of 2020 and continues to be a top-performing asset in the market.” 

Tucson-based HSL Properties owns and operates 39 Arizona apartment communities. This amounts to approximately 10,000 apartment homes/families and over 7 million square feet.

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