Clearview Capital Group Founder Sells Hotel in Tempe, AZ
OLD GREENWICH, Conn., Dec. 20, 2022 /PRNewswire/ -- The founder of Clearview Capital Group (“Clearview”), Adam Cassidy, has completed the successful sale of the Tempest hotel in Tempe, AZ. Terms of the sale were not disclosed.
Cassidy and Clearview pursue a variety of hotel development initiatives including direct investment in value-add renovations, ground up development and adaptive reuse.
The Tempest, which is adjacent to the Arizona State University Campus, was sold to a local hotel group doing business as Jay Sagar LLC. The property was previously a Quality Inn. Cassidy repositioned it to be a more upscale boutique hotel with a new lobby bar and beer garden to serve the campus-oriented community.
Cassidy held the property under the entity 1875 E. University Owner LLC.
“We opened the hotel in late 2019, months before COVID began,” said Cassidy. “The fact that we were able to survive pandemic shutdowns and sell with interest rates at an all-time high is a sign of just how strong the Tempe market is right now. Clearview Capital Group is currently pursuing five more transactions in similar high-growth markets.”
Clearview Capital Group is currently undertaking transactions in rapid-growth markets located in Virginia, Colorado, Florida and South Carolina. Before forming Clearview Capital Group, Cassidy was a development executive at Dream Hotels for 10 years.
About Clearview Capital Group
Clearview Capital Group (“Clearview”) pursues a variety of transactions including direct investment in value-add renovations, ground up development, adaptive reuse, and other hotel development initiatives. Clearview targets properties and partners in U.S. markets which benefit from committed ownership, advantaged locations, defensible business models and favorable long-term growth prospects. For more information, please visit Clearview Capital Group’s website: www.clearviewcapitalgroup.com.
Kate Shepherd, Kate@KateShepherdCommunications.com, 317-442-1674
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SOURCE Clearview Capital Group