One of the Valley’s top luxury hospitality properties, Four Seasons Resort Scottsdale, is set to be sold by Braemar Hotels & Resorts Inc. (NYSE: BHR), the Dallas-based real estate investment trust that bought it in 2023.
Braemar, which is in the process of selling several of its properties as it separates from Ashford Inc., has announced it is under contract to sell the 210-room resort located on 37 acres off East Crescent Moon Drive in Scottsdale, for $372 million. The buyer for the fancy Scottsdale resort will be Evergreen Acquisitions LLC, according to documents filed with the U.S. Securities and Exchange Commission.
Besides being registered in Delaware as a limited liability company, very little is known about the buyer in the transaction.
The transaction is expected to close Oct. 22; Braemar’s spinoff from Ashford is expected to be completed by mid-November.
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