|The Hampton Inn at Bell Rd & SR-101|
California investment company Hall Equities Group purchased a total of 7 Arizona hotels on Friday, totaling 715 rooms with a salesprice of just over $53 million, or $74,162 per room. The hotels are located in Scottsdale, Peoria, and Anthem, and have hotel flags of "Hampton Inn", "Days Inn", "Sleep Inn", and "Holiday Inn".
This acquisition is part of Hall Equities Group's purchase of Minnesota-based ZMC Hotels. The complete portfolio totals 29 hotels in 10 states1. The entire purchase was funded by a $146.5 million cross-collateralized loan with Bank of America.
1. Source: Hotel Online
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