Henderson Park, an international private equity real estate firm, has announced the acquisition of the iconic Arizona Biltmore resort in Phoenix, Arizona, from Blackstone Real Estate for $705 million. The storied 705-key luxury hotel, established in 1929, spans 39 acres and boasts a range of high-end amenities, including over 200,000 sq ft of meeting space, seven swimming pools, and a 28,000 sq ft spa. The transaction was financed with a $460 million commercial mortgage loan led by Morgan Stanley, Deutsche Bank, and J.P. Morgan. Pyramid Global Hospitality will manage the hotel. Jones Day advised Henderson Park, while Eastdil Secured and Simpson Thacher & Bartlett LLP represented Blackstone.
Real Estate, Hospitality, Private Equity,United States, United Kingdom
HENDERSON PARK ACQUIRES ICONIC ARIZONA BILTMORE FROM BLACKSTONE REAL ESTATE FOR $705 MILLION