Cushman & Wakefield has brokered the sale of the 143-room Aloft Phoenix-Airport. The six-story hospitality asset was acquired by RADCO Companies.
Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller in the transaction.
“This six-story concrete airport hotel property is positioned in a high-barriers-to-entry market,” he said. “The buyer was attracted to the Phoenix Airport market and feels this Aloft hotel asset offers great potential upside that will also benefit from a renovation providing positive ROI on that capital investment.”
Aloft Phoenix-Airport is located a mile from the Phoenix Sky Harbor International Airport, across the street from the airport Sky train station and the Light Rail station, which provides immediate access to downtown Phoenix and Tempe.
HEI Hotels & Resorts has assumed management of the hotel following the transaction.
