SCOTTSDALE, Ariz. -- Trinity Hotel Investors LLC and Whitehall Street Global Real Estate Limited Partnership 2005 have acquired the popular Resort Suites of Scottsdale, company officials have announced. The Zuckerman family, which has owned and operated the 483-key resort since its inception in 1987, will continue to manage it.
The purchase price was undisclosed, officials said, but added that the property will undergo a substantial renovation.
Resort Suites of Scottsdale offers 1-, 2- and 4-bedroom condominium-style suites with up to 1,800 square feet of living space, plus an on-site restaurant with room service, four swimming pools, three whirlpool spas, a fitness center, business center, wireless internet service and more.
"The Zuckermans have created a truly unique and highly successful product in the Phoenix/Scottsdale resort market. We believe that Trinity's and Whitehall's resort real estate experience, combined with the Zuckermans' operational expertise, will further enhance the resort over the long term," said George Ruff, Trinity's Senior Principal.
Trinity is a New York-based real estate investment company focusing on global hotel and resort investments. Past and present investments include the Boca Raton Resort & Club in Boca Raton, Fla.; the Four Seasons Resort Santa Barbara in Santa Barbara, Calif.; the Kea Lani Resort and Villas in Maui, Hawaii; Miraval Resort & Spa in Tucson, Ariz.; L'Auberge de Sedona in Sedona, Ariz.; and La Posada de Santa Fe Resort & Spa in Santa Fe, New Mexico.
Whitehall Street Global Real Estate Limited Partnership 2005 is the most recent of the Whitehall Street Real Estate Funds, a family of opportunistic real estate funds sponsored and managed by Goldman Sachs. The Whitehall funds invest in real estate and real estate-related assets worldwide.
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