Luxury REIT pays $268m for Four Seasons Resort Scottsdale at Troon North

Braemar Hotels & Resorts, a REIT focused on investing in luxury hotels and resorts, has paid $267.8 million for the luxury, 210-room Four Seasons Resort Scottsdale at Troon North in North Scottsdale, Ariz.

The seller was Strategic Hotels & Resorts.

The property totals 35,900 square feet of total indoor and landscaped outdoor event space featuring three ballrooms, and private meeting rooms including two dedicated boardrooms. Dining options at the hotel include the 100-seat Talavera steakhouse, 180-seat Proof cantina, 55-seat Saguaro Blossom poolside restaurant and 100-seat Onyx Bar and Lounge. It also includes two world-class golf courses, four pickleball courts and two tennis courts.

The deal includes 5.7 acres of developable land. The potential uses include new hotel rooms, as well as fitness and health studios, restaurants, and accessory buildings. Final entitlements will be based on designs that are subject to the approval of the Scottsdale Design Rev