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8/01/23
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In a recent AZ hotel trade, Kingsbury Hospitality REIT I Inc purchased Cambria Hotel Phoenix Chandler Fashion Center, a 136-key property located at 3165 West Frye Rd in Chandler, for $21.5 mil. Located in the East Valley, property guests are within easy reach of Phoenix Sky Harbor Airport and Phoenix area highway loop system, 101, 202, and 303.
The hotel is situated within the upscale Chandler Viridian mixed-use complex and adjacent to the Chandler Fashion Center. The area offers shopping, restaurants, and entertainment venues. The property's efficient design provides guests with upgraded guestrooms and amenities that resonate with travelers' tech and business needs. The property has an on-site restaurant, Social Circle.
Jennifer Bergamo, Ron Danko, and Hana Friedman and Hana Friedman with CBRE Hotels represented the buyer and the seller, Concord Hospitality Enterprises, in the transaction. Michael Straw and Dylan Brandt with CBRE Hotel Debt & Structured Finance assisted in securing the debt. According to Bergamo, the Phoenix metro is one of the strongest lodging markets in the country.
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