A Maricopa County Superior Court judge has approved the sale of Adero Scottsdale resort after the hotel was placed in receivership in December.
Texas-based GRMM Hotel Investment Fund as Cabo Resort Development Partners, LLC, has made the purchase of the upscale property for $66.5 million, according to a report in the Phoenix Business Journal.
Adero Scottsdale is the primary resort property in Fountain Hills doing business as a Marriott Autograph Collection. It has approximately 170 rooms after completion of a major expansion in 2020. Until 2017 the property operated as CopperWynd Resort. It was purchased by Palisades Resorts, LLC, in 2015 for a reported $6.7 million prior to the renovation.
