Monday, October 12, 2015

Scottsdale Plaza Resort Noticed on $65 Million CMBS Loan

Area Map

The 404-room Scottsdale Plaza Resort located at the northwest corner of Scottsdale and Indian Bend Roads was noticed for trustee sale Thursday. The note was originally valued at $65 million when it was recorded in 2006 with Canadian Imperial Bank of Commerce. It was securitized that same year, and in 2015 beneficial interest was assigned to special servicer LNR Partners.

The Scottsdale Plaza Resort stands on 37 acres and consists of sixty-two buildings totaling nearly 360,000 square feet. It includes a restaurant, health club, racquetball club, retail component, and five pools.

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