Ryman Hospitality Properties Acquires JW Marriott Phoenix Desert Ridge From Sean Hehir For $865M
5350 East Marriott Drive
$865,000,000
Building Size
—
Asset Type
Hotel
Closing
May 20, 2025
About this deal
AI
The property asset involved in this transaction is a hotel located at 5350 East Marriott Drive in Phoenix, AZ. The deal was finalized for a total sale price of $865,000,000, with 950 keys, resulting in a price per key of $910,526. The property underwent a $100 million renovation prior to the sale.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $865,000,000
- Buyer: Ryman Hospitality Properties
- Seller: Sean Hehir - Trinity Investments
- Keys: 950
- Price Per Key: $910,526
The buyer, Ryman Hospitality Properties, plans to maintain the JW Marriott branding for the property and explore potential value-add opportunities post-acquisition. The seller, Sean Hehir of Trinity Investments, successfully concluded the sale of the JW Marriott Phoenix Desert Ridge following significant renovations.
On the Map
$865,000,000
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93