US real estate investment company Southwest Value Partners has acquired a $110m (€100m) resort and spa asset in Arizona from Fortress Investment.
Southwest Value Partners said it has acquired JW Marriott Tucson Starr Pass Resort & Spa, a 575-key property at 3800 W Starr Pass Boulevard in Tucson.
JW Marriott Tucson Starr Pass Resort & Spa include more than 80,000sqft of flexible indoor and outdoor meeting and event space capable of hosting up to 3,300 guests; seven food and beverage outlets; three pools; a 20,000sqft spa; and the 27-hole, Arnold Palmer-designed Starr Pass Golf Club.
The resort, which opened in 2005, will continue to be managed by Marriott, Southwest Value Partners said, adding that it is considering renovations and upgrades to the property.
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