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Transactions - JULY 11, 2018

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TLG Investment Partners, Concord Wilshire acquire Phoenix hotel for $255m

by Andrea Zander

TLG Investment Partners and Concord Wilshire Capital have acquired the Sheraton Grand Hotel located in Phoenix for $255 million through an affiliate of TLG Phoenix. Marriott International is the majority capital partner with TLG and Concord Wilshire and will be managing the asset.

The Sheraton Grand Phoenix is situated in the heart of downtown less than two blocks away from the 900,000-square-foot Phoenix Convention Center as well as near the downtown campus of the University of Arizona and Chase Field, home of the Arizona Diamondbacks.

“The city of Phoenix has implemented a visionary revitalization plan over the last several years to spark growth in one of the most dramatic and exciting urban markets in the country,” said Leland Pillsbury, chairman and CEO TLG Investment Partners. “They invested over $4 billion in transportation, office, residential, education, research, arts, culture, sports and hospitality. We are delighted to be a part of this vibrant city.

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