Holualoa Companies and LaPour Partners have closed on the land acquisition to pave the way for a new dual-branded AC Hotel by Marriott and Element by Westin at the fast-growing CityNorth development in Phoenix.
City North Hotel LLC, an entity linked to Holualoa and LaPour, paid $5.94 million for the 3.58-acre plot of land on the southwest corner of Deer Valley Drive and 16th Street in north Phoenix, according to Tempe-based real estate database Vizzda. The land deal closed on Jan. 7.
The project developer for CityNorth is California-based Crown Realty and Development…