Colliers International Facilitates $23M Sale Of 3 Palms Hotel In Scottsdale

The 3 Palms Hotel located at 7707 East Mcdowell Road in Scottsdale, Arizona has been sold for $23 million. The property spans across 3.4 acres and is situated in the Scottsdale market. The sale was facilitated by Colliers International. The hotel features 130 keys, with a price per key of $176,923.

Summary of transaction details:

• Property Type: Hotel
• Sale Price: $23,000,000
• Address: 7707 East Mcdowell Road
• Market: Scottsdale, AZ
• Acres: 3.4

California-based investors Peter Sun and Lily Hsue, representing Five Star Inn One LLC and Five Star Inn Two LLC respectively, have acquired the 3 Palms Hotel. The seller in the transaction is Roger Abbott. James Meng from Colliers International acted as the broker in the deal.

Colliers International played a crucial role in facilitating the sale of the 3 Palms Hotel at 7707 East McDowell Road in Scottsdale. The property was purchased by Peter Sun and Lily Hsue for a total of $23 million. The transaction marks an important investment for the buyers, who are California-based investors. Roger Abbott acted as the seller in this deal, while James Meng from Colliers International represented the buyers as their broker. The sale price of the hotel was $23,000,000, with a total of 130 keys available in the establishment. The price per key was calculated at $176,923.