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8/10/23
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Atlanta, GA-based RADCO Companies acquired the Aloft Phoenix-Airport hotel, a six-story, 143-room hospitality asset in Phoenix. The price was not given out.
The Aloft Phoenix-Airport is a boutique hotel located at 4450 East Washington, proximate to the Phoenix Sky Harbor International Airport. The property is situated across the street from the airport Sky train station and the Light Rail station which provides immediate access to downtown Phoenix and Tempe.
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,” commented Murney.
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