HSL Properties Acquires Two Hotels In Mesa From Power Hotel Group For $50.2 Million

The transaction involved two hotels located at 2224 West Rio Salado Parkway and 860 North Riverview in Mesa, AZ. The asset type is classified as a hotel, consisting of a 180-room Sheraton and a 129-room Courtyard by Marriott. The full package includes retail space, a commercial laundry facility, a full spa, and extensive meeting space, with a total sale price of $50,200,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $50,200,000
• Buyer: HSL Properties
• Seller: Power Hotel Group
• Location: 2224 West Rio Salado Parkway & 860 North Riverview, Mesa, AZ
• Brokers: Bill Murney & Mike Montoya - Cushman & Wakefield

The deal was facilitated by Bill Murney and Mike Montoya, who represented the buyers and sellers through their brokerage, Cushman & Wakefield. HSL Properties completed this acquisition from Power Hotel Group, acquiring a significant hotel portfolio in the Mesa market.