Tuesday May 7th, 2013 - 9:30AM
LA JOLLA, CA—Private real estate investment firm, Variant Commercial Real Estate, LLC, has entered the hospitality sector with its recent acquisition of an off-market, Comfort Suites in Tucson, AZ.
The hotel is located near the Tucson Mall and consists of 87 suites covering. The three-story hotel was built in 1998 and is situated on roughly 1.5 acres. Variant is currently negotiating the purchase of five other hotels in Arizona.
Variant operates under a value-add, buy-and-hold strategy and has plans to renovate the property. Improvements will include room enhancements, new amenities, common-area upgrades and landscaping.