Scottsdale-based investment firm Sterling Real Estate Partners recently acquired Suites on Scottsdale in an off-market transaction with plans to convert the hotel into market-rate apartments. Originally built in 1996, the 114-room extended-stay hotel will be transformed into a luxury, 85-unit apartment community. The property is centrally located in one of Scottsdale’s most affluent sub-markets, positioned on the corner of Scottsdale and Mountain View roads, just south of Shea Blvd. This acquisition marks Sterling’s second adaptive reuse project.
