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For Immediate Release
Cushman & Wakefield Arranges Sale of 143-Room Hotel Asset Near Phoenix Airport Atlanta-based RADCO acquires Aloft branded hotel, with plans for renovation
PHOENIX, Ariz. – August 9, 2023 – Cushman & Wakefield announced the firm has brokered the sale of the 143-room Aloft Phoenix-Airport hotel in Phoenix, Arizona. The six-story hospitality asset was acquired by Atlanta, GA-based RADCO Companies.
Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller in the transaction.
“This six-story concrete airport hotel property is positioned in a high-barriers to entry market. The buyer was attracted to the Phoenix Airport market and feels this Aloft hotel asset offers great potential upside that will also benefit from a renovation providing positive ROI on that capital investment,” said Executive Managing Director Bill Murney.
Aloft Phoenix-Airport is a boutique hotel located at 4450 East Washington proximate to the Phoenix Sky Harbor International Airport. The property is located across the street from the airport Sky train station and the Light Rail station which provides immediate access to downtown Phoenix and Tempe.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.com.
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