Scottsdale, Ariz.-based Glacier House Hotels closed on the sales of three Arizona hotels last month. The transactions, arranged by Berkadia's Hotels & Hospitality team, totaled $80.1 million.
Glacier House Hotels sold the 66-room Best Western Plus Arroyo Roble Hotel & Creekside Villas in Sedona, Ariz., for $31.5 million to Ensemble Real Estate Solutions. The 66-room hotel features a variety of recreational facilities, including an indoor and outdoor pool, a fitness center, pool tables, a game room and tennis and indoor racquetball courts.
Less than 8 miles away, Glacier House sold the 117-room Element Sedona to Braxton Development. Slated to open this month, the hotel includes a meeting room, a fitness center and a swimming pool.
Glacier House sold a second Element hotel in Chandler, Ariz. Bought by Trimark Property Group for $16.6 million, the Element Chandler Fashion Center includes 107 guestrooms, a fitness center and an outdoor pool.
Including these sales, Berkadia has completed five transactions totaling more than $119 million on behalf of Glacier House Hotels since it was enlisted to market a 15-property portfolio in January. Berkadia’s team is engaged in the sale of the remaining properties in the portfolio.