Berkadia announced today the sale of the Sedona Real Inn & Suites, an 89-key hotel located in Sedona, Arizona. Managing Director Scott Hall and Senior Directors Aaron Lapping and Spencer Scott of Berkadia Hotels & Hospitality led the transaction on behalf of the seller, MIG Real Estate, a real estate investment company with assets across the Western U.S. and Sun Belt states.
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Sedona Real Inn & Suites sold to Wyoming-based Crystal Creek Capital.
The sale represents the largest hotel transaction in Sedona this year and Berkadia’s third hospitality transaction in this stunning destination in recent years. The sale price was not disclosed.
“Sedona’s high-barriers-to-entry combined with the hotel’s strong cashflow, existing quality, and value-add renovation potential generated significant interest in the opportunity,” said Hall. “The leisure appeal of this great resort market has always been strong, and Sedona’s long-term fundamentals and the hotel’s investment proposition have Crystal Creek well-positioned for future success as the next stewards of this incredible property.”
Nestled along State Route 89A, Sedona’s main artery, the 89-key hotel is surrounded by Sedona’s famed outdoor experiences including Red Rock State Park, Crescent Moon Ranch with its iconic Cathedral Rock, and Boynton Canyon. Four million visitors descend annually to experience Sedona’s world-class attractions, including more than 200 trails for biking, hiking, and rock-climbing, fine dining, art galleries, wine country and personal enrichment.
Berkadia Hotels & Hospitality combines best-in-industry innovation, knowledge, and experience with the most comprehensive suite of products and services, backed by relentless customer service and support to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.
