Photos courtesy of Scottsdale Plaza Resort and Villas
Rockpoint, a Boston-based real estate private equity firm, and Highgate, a prominent hotel management, investment, and development company, announced the recent sale of the Scottsdale Plaza Resort and Villas. The financial terms of the deal were not disclosed.
“Highgate is pleased to have partnered with Rockpoint on Scottsdale Plaza Resort and Villas, and to have successfully executed on our value-add plan and delivered strong results,” says Zach Berger, principal at Highgate. The company will continue to operate the resort in collaboration with the new owner.
Throughout their ownership, Rockpoint and Highgate preserved the property’s storied history while introducing significant upgrades. These included a partnership with Preferred Hotels and Resorts, enhancing the hotel’s online presence, and implementing advanced revenue management strategies.
“Rockpoint and Highgate shared a vision for the resort, and we’re proud of the substantial value we added through property enhancements, cost-saving measures, and strategic revenue initiatives,” says Aric Shalev, managing member and co-president at Rockpoint. “The resort is poised to continue its legacy under new ownership.”
Located at 7200 N. Scottsdale Rd., the Scottsdale Plaza Resort and Villas boasts 404 rooms, over 50,000 square feet of event space, five pools, tennis courts, a state-of-the-art fitness center, and luxury spa amenities. Near Old Town Scottsdale and downtown Phoenix, the resort is nestled in the scenic Sonoran Desert, featuring nearly 40 acres of gardens and proximity to popular hiking trails. Established in 1976, it remains one of Arizona’s largest and most storied resorts.
Newmark brokered the transaction on behalf of Rockpoint and Highgate.
