After more than a year in receivership, the Adero Scottsdale Resort has a new owner.
The 177-room property in Scottsdale along the border of neighboring Fountain Hills, which was known as the CopperWynd Resort before a $100 million renovation and rebrand in the late 2010s, was sold in late December for $57.5 million, according to documents filed with the Maricopa County Recorder’s Office.
Miami-based LionGrove, a hospitality investment that currently owns several high-end resorts in Puerto Rico, acquired the property. It is LionGrove’s first acquisition in Arizona and marks the firm’s strategy to expand into high-growth markets.
Read more of this story from the Business Journal.
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