The Arizona Biltmore has reportedly sold for $403.4 million to Blackstone Real Estate Advisors, according to azcentral.com.
The iconic resort is located near 24th Street and Camelback Road and has been the go-to resort for many U.S. presidents when visiting Arizona.
Blackstone Real Estate Advisors is based in New York and is the largest real estate private equity firm. Blackstone owns the J.W. Marriott in Phoenix after a $1.2 billion deal in 2015.
The resort provided no comment on the details on the sale and said it’s business as usual at the Arizona Biltmore.
The Arizona Biltmore opened in 1929 and was renovated in 2014. The Waldorf Astoria Hotel was designed by Albert Chase McArthur who brought Frank Lloyd Wright on to the project for consulting.
