12 San Marcos Resort's New Owner Plans Renovation of Property 21 24
Tuesday Volume 3 Issue 100 Issue Date: February 12, 2013 CONNECTING THE LOCAL BUILDING INDUSTRY San Marcos Resort’s New Owner Plans Renovation of Property By Michelle Interwest Capital, which purchased The hotel, which will remain a Crowne $23.9M loan. San Marcos Capital filed Mitchell for The Chandler’s historical Crowne Plaza Plaza, will not close during renovation for bankruptcy in March 2011. San Marcos Resort Hotel on January and all existing reservations will Arizona Republic This $11M sale to Interwest Capital is 28, plans a top-to-bottom renovation, be honored, said Ashleigh Mason, about 67 percent of what Guaranty including revamping guest rooms director of development with GF Bank and Trust Company paid in and meeting spaces and improving Management. November 2011 to foreclose the the golf course and grounds, said The San Marcos, which opened in property in a trustee sale. Karl Coleman, president of Interwest 1913, has 250 rooms and 35K square Capital. The Interwest deal comes more than feet of meeting space. President two years after the resort was taken “Our goal is to have that finished Herbert Hoover, dancer-actor Fred over by the receiver, although those this year so we can celebrate the Astaire and other celebrities have connected to the property had said centennial of the hotel,” Coleman stayed there. publicly that interested buyers were said. The future of the hotel, at Arizona moving forward on the property. The remodeling will not detract from Avenue and Chandler Boulevard, has Read more at AZCentral. Note: the historic designation of the hotel, been uncertain since October 2010, AZCentral is now premium content.
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