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BUSINESS / REAL ESTATE

Chandler Fashion Center-area hotel sold for $21.5M

Kingsbury Hospitality REIT I, Inc., recently purchased the Cambria Hotel Phoenix Chandler - Fashion Center on West Frye Road from Concord Hospitality Enterprises for $21.5 million.

CBRE, a Dallas, Texas-based commercial real estate services and investment firm, facilitated the sale and made the announcement.

The hotel is a 136-key property located within the Viridian mixed-use complex and adjacent to the Chandler Fashion Center. There's an on-site restaurant, Social Circle.

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