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Hyatt Hotels Corporation purchased the 119-unit Royal Palms Resort and Spa yesterday for $88.25 million from Los Angeles-based Lowe Enterprises. The total salesprice corresponds to nearly $742,000 per unit.
The Royal Palms Resort was built in 1996 on nine acres near the southeast corner of Arcadia Drive and Camelback Road and includes a pool, restaurants, fitness center, and spa.
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