Real estate investor buys Sheraton Phoenix Downtown

Brookfield Properties, a New York-based real estate investor, has acquired the Sheraton Phoenix Downtown, the city's largest hotel, as recorded by Maricopa County. This investment reflects a strong commitment to the Phoenix hospitality sector, which is gradually recovering. Hotel manager Brady Lamar expressed enthusiasm, stating, "We are honored that Brookfield chose to invest in Sheraton Phoenix Downtown and in our local community. " The Sheraton Phoenix Downtown's size underscores the significance of this transaction. The partnership aims to improve the hotel's services and operational efficiency.

As tourism and business travel resume, this acquisition could play a pivotal role in revitalizing local hospitality. Brookfield's investment may also stimulate further developments in the surrounding area. The deal highlights a growing interest in the Phoenix market from national investors.