Dynamic City Capital recently acquired the 177-room Canopy by Hilton Scottsdale Old Town hotel for a staggering $102 million. The seller, Miller Global Properties, sold the property in 2020 for approximately $795 per square foot. This acquisition marks one of the most significant hotel trades in the Valley this year, according to data from Vizzda.
The seven-story Canopy by Hilton Scottsdale Old Town was built in 2020 and boasts a total of 128,083 square feet. Its prime location on First Street and Marshall Way makes it an attractive destination for travelers visiting Old Town. Notably, when it opened last summer after more than ten years since a new-build hotel debuted in the area, it quickly became a popular choice among visitors due to its modern amenities such as meeting spaces and two restaurants along with its rooftop pool and bar.
In summary: Dynamic City Capital has purchased Canopy by Hilton Scottsdale Old Town at an impressive price tag of $102 million from Miller Global Properties. The newly-built seven-story hotel offers luxurious amenities including meeting spaces and multiple dining options that have made it one of this year’s top-performing hotels based on data compiled by Vizzda.
