Partners Group and Trinity Investments have strengthened their partnership with the acquisition of a 37.4-acre resort in the southwest of the US, following their initial collaboration in 2022.
The joint venture has invested an unspecified amount to acquire The Scottsdale Plaza Resort & Villas in Paradise Valley, Arizona.
The resort, located in Phoenix, features 404 rooms spread across the central hotel and surrounding villa suites, as well as 50,000sqft of meeting space.
The transaction includes the possibility of expanding the asset, subject to the seller securing the necessary rights.
Sean Hehir, managing partner, president and CEO of Trinity Investments, said: “The Scottsdale Plaza Resort & Villas is a prime example of an excellent property coming to market in need of a significant capital investment from a partnership like Trinity and Partners Group that can deliver a development plan for future growth.
“We are pleased to work with Partners Group again as we execute on our repositioning and enhancement plan for this already well-performing asset.”
Jason Longo, senior investment leader at Partners Group, said: “Trinity has been an excellent partner in creating, managing and delivering additional value on our joint investments. I am looking forward to continuing to build our real assets portfolio and platform together.”
The latest acquisition extends the partnership between the two firms, which began with their first joint venture in 2022 with The Las Colinas Resort in Dallas.
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