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OFFERING SUMMARY
Berkadia’s Hotels & Hospitality Group is pleased to offer, on an exclusive basis, the opportunity to acquire the fee-simple interest in the ADERO Scottsdale, Autograph Collection (the “ADERO,” “Resort” or “Property”) through a receivership sale. Uniquely located along an elevated ridgeline in the McDowell Mountains at the entrance of Adero Canyon, the 177-key Resort sits on 16.7 acres of expansive grounds, with access to three major nature reserves encompassing 55,000 acres. The AAA Four Diamond Resort’s luxury accommodations are complemented by unparalleled facilities and amenities, including a world-class fitness membership club, desert-inspired adventure destination spa, farm-to-table cuisine, poolside oasis, on-site trailheads for hiking and mountain biking, tennis and pickleball courts, and access to the adjacent SunRidge Canyon Golf Club, providing guests an idyllic desert setting. The Property is offered unencumbered of management.
Formerly the CopperWynd Resort, the Property benefited from a complete transformation in 2020 that included the construction of 145 new guestrooms, world-class resort programming, new meeting and banquet space, and a significant renovation of the existing 32 keys, lobby, meeting, fitness and signature restaurant. Prior ownership also secured approvals to build an additional 123 units of hotel keys and/or for-sale residential/timeshare, plus expansion of associated amenities. Upon reopening and subsequent affiliation with Autograph Collection by Marriott, the Resort has received tremendous publicity and acclaim. In 2021, the Resort was named to the prestigious Travel + Leisure “It List” and Condé Nast Traveler's “Hot List.” ADERO is the only Autograph Collection property in a certified Dark Sky Community nationwide.
In December 2023, the Property was placed into receivership, in turn terminating the prior management agreement, and providing a new investor the opportunity to acquire the asset free and clear of any management encumbrance.
With best-in-class product, significant performance upside via implementation of a new operator, and unique expansion approvals in a certified Dark Sky Community, ADERO presents an incredibly rare opportunity for a new owner to capitalize on a world-class institutional resort in one of the nation’s fastest-growing MSA’s and top leisure lodging markets.
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Investment Highlights
Cliffside pool complex with a resort pool, lap pool, and jacuzzi
The Club at ADERO – 7,000-square-foot state-of-the-art fitness center including
Peloton training room, yoga studio, on-site personal trainers and fitness classes
The Spa at ADERO – Six treatment rooms, and a world-class relaxation room
Resort and Spa Merchandise & Sundry Boutique
Locker room facilities with steam rooms, and jacuzzi
One championship tennis court, one multiple use court (tennis/basketball court) and six pickleball courts
Marriott Affiliated Golf Course (SunRidge Canyon Golf Club)
AMENITIES & RECREATIONAL FACILITIES
Property Overview
13225 North Eagle Ridge Drive, Scottsdale, AZ 85268
2000 (32 keys) / 2020 (145 new keys & amenities)
Autograph Collection by Marriott (Encumbered) / Unencumbered
16.65 acres (727,387 SF)
Fee-Simple / Non-Union
177 luxury accommodations including 16 suites and 19 ADA rooms
CIELO Restaurant (Signature “View” Restaurant)
SkyTop at ADERO
REVIVE Cafe
Pool Bar and Lounge
BUILT / EXPANDED
BRAND / MANAGEMENT
LAND AREA
TENURE / LABOR
GUESTROOMS
FOOD & BEVERAGE
±16,450 SF of flexible indoor and outdoor meeting space including the 4,520 squarefoot Four Peaks Ballroom
210 surface parking spaces with additional 40 valet parking spaces
123 units entitled
Hotel keys, timeshare, fractional or other residential
±6,200 SF of additional meeting facilities and amenities
MEETING SPACE
PARKING
EXPANSION APPROVALS (TOWN OF FOUNTAIN HILLS)
Situated along Adero Canyon’s ridgeline, the Asset enjoys staggering views of the Four Peaks and the Sonoran Desert to the East, Sunrise Peak and the city lights of Scottsdale to the West, and Adero Canyon with trail access to the North and Red Mountain views to the South. The Resort benefits from its exceptional location, close to Scottsdale’s leading leisure demand drivers, including Old Town Scottsdale, the renowned entertainment and dining district, with five golf courses within several miles (adjacent to SunRidge Canyon Golf) and only 20 minutes from Phoenix Sky Harbor International Airport. Only minutes from the Resort, the Mayo Clinic’s main campus in Scottsdale features a cutting-edge medical facility and the Mayo Clinic Alix School of Medicine. It has most recently been ranked the number one hospital in Arizona and one of the top 20 hospitals in the nation for five consecutive years.
Location
PHOTO GALLERY
Contact Us
Scott Hall
Managing Director
858.257.4724 scott.hall@berkadia.com
Scott Hall
Managing Director
858.257.4724 scott.hall@berkadia.com
Mark Forrester
AZ Lic. #LC649418000
Lindsey DeButts
Senior Director
240.204.5131 lindsey.debutts@berkadia.com
Aaron Lapping
Senior Director
702.494.8127 aaron.lapping@berkadia.com
INVESTMENT SALES
FINANCING
BROKER OF RECORD
BACK TO TOP
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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13225 North Eagle Ridge Drive | Scottsdale, AZ 85268
One of a Kind Asset: Only Autograph Collection Resort in a Certified Dark Sky Community
Irreplaceable Location
Receivership Sale: Clear of Prior Management Encumbrance & Offered Below Replacement Cost
Recently Transformed, Best-In-Class Resort with an Impressive Amenity Base
Compelling Lodging Market Fundamentals
One of the Nation's Fastest Growing MSA's
Unencumbered of Management
Continued Ramp-Up with Excellent Upside Potential
Unique By-Right Development
Strength of Marriott Affiliation & Possible Brand Flexibility Within System
The Offering
Highlights
Location
Photo Gallery
Contact
document center
privacy
terms of use
Courtney Farrington
Senior Financial Analyst 619.497.3083 courtney.farrington@berkadia.com
RECEIVERSHIP SALE
13225 North Eagle Ridge Drive | Scottsdale, AZ 85268
13225 North Eagle Ridge Drive | Scottsdale, AZ 85268
Visit Doc Center
Contact
HIGHLIGHTS
THE OFFERING
PHOTO GALLERY
Privacy
Terms of Use
Document Center
LOCATION
RECEIVERSHIP SALE
OFFERING SUMMARY
Berkadia’s Hotels & Hospitality Group is pleased to offer, on an exclusive basis, the opportunity to acquire the fee-simple interest in the ADERO Scottsdale, Autograph Collection (the “ADERO,” “Resort” or “Property”) through a receivership sale. Uniquely located along an elevated ridgeline in the McDowell Mountains at the entrance of Adero Canyon, the 177-key Resort sits on 16.7 acres of expansive grounds, with access to three major nature reserves encompassing 55,000 acres. The AAA Four Diamond Resort’s luxury accommodations are complemented by unparalleled facilities and amenities, including a world-class fitness membership club, desert-inspired adventure destination spa, farm-to-table cuisine, poolside oasis, on-site trailheads for hiking and mountain biking, tennis and pickleball courts, and access to the adjacent SunRidge Canyon Golf Club, providing guests an idyllic desert setting. The Property is offered unencumbered of management.
Formerly the CopperWynd Resort, the Property benefited from a complete transformation in 2020 that included the construction of 145 new guestrooms, world-class resort programming, new meeting and banquet space, and a significant renovation of the existing 32 keys, lobby, meeting, fitness and signature restaurant. Prior ownership also secured approvals to build an additional 123 units of hotel keys and/or for-sale residential/timeshare, plus expansion of associated amenities. Upon reopening and subsequent affiliation with Autograph Collection by Marriott, the Resort has received tremendous publicity and acclaim. In 2021, the Resort was named to the prestigious Travel + Leisure “It List” and Condé Nast Traveler's “Hot List.” ADERO is the only Autograph Collection property in a certified Dark Sky Community nationwide.
In December 2023, the Property was placed into receivership, in turn terminating the prior management agreement, and providing a new investor the opportunity to acquire the asset free and clear of any management encumbrance.
With best-in-class product, significant performance upside via implementation of a new operator, and unique expansion approvals in a certified Dark Sky Community, ADERO presents an incredibly rare opportunity for a new owner to capitalize on a world-class institutional resort in one of the nation’s fastest-growing MSA’s and top leisure lodging markets.
One of a Kind Asset: Only Autograph Collection Resort in a Certified Dark Sky Community
Irreplaceable Location
Receivership Sale: Clear of Prior Management Encumbrance & Offered Below Replacement Cost
Recently Transformed, Best-In-Class Resort with an Impressive Amenity Base
Compelling Lodging Market Fundamentals
One of the Nation's Fastest Growing MSA's
Unencumbered of Management
Continued Ramp-Up with Excellent Upside Potential
Unique By-Right Development
Strength of Marriott Affiliation & Possible Brand Flexibility Within System
Visit Doc Center
Investment Highlights
±16,450 SF of flexible indoor and outdoor meeting space including the 4,520 squarefoot Four Peaks Ballroom
210 surface parking spaces with additional 40 valet parking spaces
123 units entitled
Hotel keys, timeshare, fractional or other residential
±6,200 SF of additional meeting facilities and amenities
MEETING SPACE
PARKING
EXPANSION APPROVALS (TOWN OF FOUNTAIN HILLS)
Cliffside pool complex with a resort pool, lap pool, and jacuzzi
The Club at ADERO – 7,000-square-foot state-of-the-art fitness center including
Peloton training room, yoga studio, on-site personal trainers and fitness classes
The Spa at ADERO – Six treatment rooms, and a world-class relaxation room
Resort and Spa Merchandise & Sundry Boutique
Locker room facilities with steam rooms, and jacuzzi
One championship tennis court, one multiple use court (tennis/basketball court) and six pickleball courts
Marriott Affiliated Golf Course (SunRidge Canyon Golf Club)
AMENITIES & RECREATIONAL FACILITIES
2000 (32 keys) / 2020 (145 new keys & amenities)
Autograph Collection by Marriott (Encumbered) / Unencumbered
16.65 acres (727,387 SF)
Fee-Simple / Non-Union
177 luxury accommodations including 16 suites and 19 ADA rooms
CIELO Restaurant (Signature “View” Restaurant)
SkyTop at ADERO
REVIVE Cafe
Pool Bar and Lounge
BUILT / EXPANDED
BRAND / MANAGEMENT
LAND AREA
TENURE / LABOR
GUESTROOMS
FOOD & BEVERAGE
13225 North Eagle Ridge Drive, Scottsdale, AZ 85268
Property Overview
Situated along Adero Canyon’s ridgeline, the Asset enjoys staggering views of the Four Peaks and the Sonoran Desert to the East, Sunrise Peak and the city lights of Scottsdale to the West, and Adero Canyon with trail access to the North and Red Mountain views to the South. The Resort benefits from its exceptional location, close to Scottsdale’s leading leisure demand drivers, including Old Town Scottsdale, the renowned entertainment and dining district, with five golf courses within several miles (adjacent to SunRidge Canyon Golf) and only 20 minutes from Phoenix Sky Harbor International Airport. Only minutes from the Resort, the Mayo Clinic’s main campus in Scottsdale features a cutting-edge medical facility and the Mayo Clinic Alix School of Medicine. It has most recently been ranked the number one hospital in Arizona and one of the top 20 hospitals in the nation for five consecutive years.
Location
PHOTO GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Contact Us
Visit Doc Center
Scott Hall
Managing Director
858.257.4724 scott.hall@berkadia.com
Scott Hall
Managing Director
858.257.4724 scott.hall@berkadia.com
Mark Forrester
AZ Lic. #LC649418000
Lindsey DeButts
Senior Director
240.204.5131 lindsey.debutts@berkadia.com
Aaron Lapping
Senior Director
702.494.8127 aaron.lapping@berkadia.com
Courtney Farrington
Senior Financial Analyst 619.497.3083 courtney.farrington@berkadia.com
INVESTMENT SALES
FINANCING
BROKER OF RECORD
BACK TO TOP
Value-Add Opportunities
The Property presents incredible inherent upside through various value-add initiatives. A new investor can implement any number of following value-driving strategies:
Capitalize on the ramp-up of a bestin- class physical product that is now, via receivership, an operational blank slate
1
Retain or implement new management at the property to optimize Resort’s potential and day-today operations
2
Renovate the 32 oversized guestrooms that were part of the original CopperWynd Resort
3
Expand wedding, group and special event business through targeted sales and marketing efforts and additional of more event space or a creative, flexible event/F&B venue
4
Explore possibility of a more favorable f ranchise fee structure or alternative Marriott brand options with more flexibility around staffing and service levels during nonpeak season
5
Increase parking fee to be in-line with competitive set
6
Increase food and beverage and ancillary revenues around the Resort Pool through increased cabana packages and pool day passes
7
Consistently monetize Dark Sky Zone designation with special room packages through Marriott, vanity website and OTA’s
8
Embrace and expand upon activated public spaces with interactive experiences and “instagrammable” moments to create a fullyintegrated entertainment resort appealing to different types of guests
9
Increase membership revenue as the immediate Toll Brothers community continues to expand and as the Resort continues to gain market share and popularity
10
Complete approved Resort expansion through the addition of 123 accommodations and meeting space. As part of the expansion, generate significant profit through for-sale product
11
ADERO Scottsdale Resort benefits from a Scottsdale mailing address but receives its entitlements from the Town of Fountain Hills, Metro Phoenix’s only community with the “Dark Sky” designation.
By-Right Development
Following an arduous entitlement process, prior ownership secured approvals in 2017 to expand the existing 32-key hotel located on a 16.5-acre property carved out of a mountaintop into a world-class 300-key destination resort. Prior ownership completed the initial phase of this transformation through a $64 million repositioning delivered in October 2020 that included construction of a new 145-key guestroom tower, world-class resort programming, new meeting and banquet space, and a significant renovation of the existing 32 keys, restaurant, lobby, and back-of-house areas. As a result, ADERO is now a highly-acclaimed 177-guestroom luxury resort with an expansive array of best-in-class amenities. The additional 123 units of approved density can include hotel keys and/or for-sale residential or fractional ownership plus expansion of associated amenities. Tremendous value will be created through the final two phases of expansion, as additional accommodations and meeting space in this incredibly high barriers-to-entry oasis will further distinguish the Resort as one of the region's preeminent destinations. Furthermore, the expansion will generate even higher stabilized margins for the existing 177-key Property.
Possible conceptual expansion executions:
Additional Autograph Collection keys
Second Marriott-branded tower Timeshare/fractional/for-sale product
Homes & Villas by Marriott
SUMMARY OF RESORT’S DEVELOPMENT AGREEMENT/ ENTITLEMENTS
The full 300-key Resort expansion was approved in March 2017
In April 2022, Fountain Hills granted Ownership a five-year extension on all development benchmark dates because of the COVID-19 pandemic
All entitlements are now valid through March 2032 with an opportunity to extend for another ten years
Plans for the remaining 123 not-yet-built units and associated amenities need to be submitted or an extension filed before March 16, 2027