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The Scottsdale Plaza Resort Sells to Partners Group

The new owners of The Scottsdale Plaza Resort & Villas will prioritize catering to large groups

By Todd R. Berger

3.15.24 The Scottsdale Plaza Resort & Villas Sells
The Cypress Court at The Scottsdale Plaza Resort & Villas || Courtesy of The Scottsdale Plaza Resort & Villas

A joint venture between Partners Group, a leading global private markets firm acting on behalf of its clients, and funds managed by Trinity Investments, announced today the acquisition of The Scottsdale Plaza Resort & Villas in Paradise Valley, Arizona. The Scottsdale Plaza Resort & Villas features 404 rooms spread across the central hotel and surrounding villa suites, as well as 50,000 square feet of meeting space. The transaction also includes the potential for expansion with entitlements secured by the seller.

In recent years, the Phoenix area has become one the most populous and fastest-growing metro areas in the U.S., and it is a leading destination market, hosting more than 23 million visitors annually. The resort sits on nearly 40 acres of land in one of Phoenix’s nicest suburbs, Paradise Valley, and is directly adjacent to The Ritz-Carlton Hotel & Residences, Paradise Valley, and its surrounding developments.

“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,” says Sean Hehir, managing partner, president, and CEO of Trinity Investments, in a prepared statement. “We are pleased to work with Partners Group again as we execute our repositioning and enhancement plan for this already well-performing asset.”

As part of its acquisition strategy, Trinity will execute a targeted capital plan intended to create a cohesive resort experience, specifically catering to large groups, friends and family, and premium leisure travelers. The resort will continue to be managed by Highgate.

“Trinity has been an excellent partner in creating, managing, and delivering additional value to our joint investments,” says Jason Longo, senior investment leader, Partners Group. “I am looking forward to continuing to build our real assets portfolio and platform together.”

This acquisition extends the partnership between the two firms, which began with their first joint venture in 2022 with The Las Colinas Resort in Irving, Texas, which recently converted to The Ritz-Carlton Dallas, Las Colinas.

scottsdaleplaza.com

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