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February 25, 2024
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Moonstar Hospitality Buys 107-Key Asset in Phoenix for $18 Mil


Salt Lake City, UT-based Moonstar Hospitality LLC is the new owner of a 107-room Fairfield Inn & Suites by Marriott hotel asset in Phoenix after completing an $18 mil ($168k/unit) purchase of the property. The asset, located at 2520 N Central Ave, was sold by MIG Real Estate.

Photo: CoStar
Photo: CoStar
The hotel benefits from being located less than 10 minutes from Sky Harbor International Airport. Its proximity to world renown Barrows Neurological Hospital and St Joseph’s Hospital three blocks away, and the many restaurants, bars, and abundant office in the Midtown submarket makes it a great location.

Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller in the transaction.

“The property’s Central Avenue location on the light rail and easy access to Downtown Phoenix, with the sports and entertainment venues, 900k sf Convention Center, U of A Medical School, ASU Downtown Campus, TGen, and more, makes it a very popular spot for business and leisure travel,” noted Murney.

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