SAN DIEGO & TUCSON, Ariz.–(BUSINESS WIRE)–Southwest Value Partners has acquired the JW Marriott Tucson Starr Pass Resort & Spa for $110 million from Fortress Investment Group. The 575-key property, located at 3800 W. Starr Pass Blvd. in Tucson, is regarded as one of the top resorts in Arizona and is recognized with AAA’s 4-Diamond designation.
Images of the JW Marriott Tucson Starr Pass Resort & Spa are available here.
With offices in San Diego, Nashville, and Phoenix, Southwest Value Partners is owned and operated by Managing Partners Mark Schlossberg and Cary Mack. The firm’s diverse investment portfolio includes substantial hospitality holdings both nationally and in Arizona. In addition to Starr Pass, the firm’s other assets in Arizona include the 487-room Westin La Paloma Resort & Spa in Tucson, the 235-key Hilton Resort & Villas in Scottsdale, and the 378-room Doubletree Resort by Hilton Hotel Paradise Valley – Scottsdale.
“Starr Pass is an iconic property in Arizona, and we are pleased to add it to our growing portfolio,” said Schlossberg and Mack in a joint statement. “The well-appointed rooms and suites, luxury amenities, and excellent service make for an unforgettable visitor experience.”
Key features of the JW Marriott Tucson Starr Pass Resort & Spa include more than 80,000 square feet of flexible indoor and outdoor meeting and event space capable of hosting up to 3,300 guests; seven food and beverage outlets; three pools, including a lazy river and water slide; a 20,000 square foot spa; and the 27-hole, Arnold Palmer-designed Starr Pass Golf Club.
Christian Charre, Jennifer Bergamo, Paul Weimer, and Jennifer Jin with CBRE Hotels represented the seller, Fortress Investment Group, in the transaction.
The resort, which opened in 2005, will continue to be managed by Marriott. Southwest Value Partners is evaluating potential renovations and upgrades to the property.
About Southwest Value Partners
Southwest Value Partners is a privately held real estate investment company that invests in institutional quality real estate located in growth markets throughout the United States. Southwest Value Partners has a disciplined and high energy approach to asset acquisition, operating execution, value creation, and asset disposition. To learn more about Southwest Value Partners, visit www.swvp.com.
Contacts
Ann Waller Curtis
annwaller.curtis@stonesrivergroup.com