AZ-WALTON-GLOBAL
30.6.2022 00:12:24 CEST | Business Wire | Press release
Walton Global, a real estate investment and land asset management company with US$3.6 billion under management, is pleased to announce its acquisition of the Smoke Tree Resort property located west of Scottsdale Road on Lincoln Drive in the Town of Paradise Valley, Arizona.
The deal closed on June 29, 2022, with ST Holdings, a subsidiary of Scottsdale-based Walton Global Holding, LLC. Walton acquired the 5-acre property for $14 million with plans to build a new boutique hotel that will serve locals and support Arizona tourism.
Walton intends to incorporate an elegance in the new design that Paradise Valley is known for and avoid controversial elements that have challenged Smoke Tree and other hotel redevelopments in the past such as roof top bars, condominiums, for-sale units, height, density and other concerns that have hampered revitalization efforts in the past.
The distinctive and strategically positioned property was subject to bankruptcy and now has fresh opportunities and a renewed sense of optimism.
“As a Paradise Valley resident for 15 years, I have driven past the Smoke Tree Resort often wondering why it sat dormant for so many years. When Walton was introduced to the opportunity to acquire the resort and learned about its financial challenges, we acted quickly, conducted our diligence and secured the property. I’m excited about our goal to revive this historic landmark into a place that Paradise Valley residents and Phoenix as a whole can point to again as a prime destination to experience that also meets the high standards of the community’s ethic,” said Walton Global executive vice president of Business Development, Matt Keister.
The Smoke Tree Resort was originally built in 1954. The resort’s Lincoln Drive facing restaurant – The Other Place – was also a Paradise Valley landmark but attempts to reopen under new management ultimately failed and the restaurant has been shuttered for over a decade.
Walton is already surrounding itself with “best in class” professionals including Allen & Philp, an architectural firm based in Scottsdale with an exceptional hotel portfolio that includes The Sanctuary, The Boulders, Fairmont Princess, and several other award-winning hotel properties.
“I believe Walton’s vision will be consistent with Paradise Valley’s wishes and sensitivities and our capital is patient. It is extremely important to us to listen to the Town of Paradise Valley Council and the community before we finalize our designs. We are looking forward to achieving a consensus that will result in an extraordinary gathering place for the residents of Paradise Valley that will also produce economic benefits for the Town and Arizona,” said Walton Global CEO Bill Doherty.
Walton intends to reach out to Paradise Valley residents to solicit input before hotel design plans are finalized.
“Feedback we receive from surrounding residents will be integrated into the future vision of the new hotel. And to ensure that transparency and communication remains open throughout the project’s evolution, we will be creating platforms such as a website and social media sites to post routine updates. We want our Town to embrace the project and to be proud of what we feel is the gateway to Paradise Valley,” Keister said.
About Walton Global
Walton Global is a privately-owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning, and development of land. With more than 43 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US$3.6 billion in assets on behalf of its global investors located in 73 countries, builders and developers and industry partners. Walton has more than 97,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments, builder land financing and build-to-rent. For more information visit walton.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220629005874/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Comwrap Reply Recognized With the Adobe CXO Emerging Partner Western Europe Award21.4.2026 09:52:00 CEST | Press release
Comwrap Reply, the Reply company specialised in cloud-native digital experience services, has received the Adobe CXO Emerging Partner Western Europe Award, one of the recognitions presented as part of the Adobe Customer Experience Orchestration Partner Awards, which honour companies that have made significant contributions to Adobe’s business and delivered a tangible impact on customer success. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260421234434/en/ The award is part of a long-standing collaboration with Adobe, recently reaffirmed by the renewal of Comwrap Reply’s Adobe Platinum Solution Partner status, and highlights the experience gained in developing digital experience solutions on Adobe Experience Cloud. The recognition confirms Comwrap Reply’s role in supporting organisations in the design and evolution of digital platforms based on Adobe Experience Cloud, capable of integrating content, data and customer journe
Lenovo Brings Production-Scale AI to Hannover Messe 2026, Delivering Up to 85% Faster Lead Times for Manufacturers21.4.2026 09:00:00 CEST | Press release
With 94% of manufacturers increasing AI investment in 2026, Lenovo enables the shift from pilot to production with solutions already delivering measurable gains in cost, quality, and operational performance Manufacturers are under increasing pressure to improve efficiency, resilience, and responsiveness in the face of ongoing supply chain volatility and rising operational complexity. In this environment, AI is no longer a future ambition but an operational necessity. With 94% planning to increase AI investment in 20261 and an expected $2.86 return for every dollar spent2, the priority has shifted from experimentation to execution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260421992136/en/ ThinkStation PGX and Lenovo ThinkEdge Solution 2 At Hannover Messe 2026, Lenovo in partnership with NVIDIA are demonstrating how manufacturers can close that gap by deploying AI solutions already proven at scale across its own global o
Barnes Molding Solutions Becomes SPECTRIX21.4.2026 07:00:00 CEST | Press release
Barnes Molding Solutions is now SPECTRIX. The new Brand offers the full Spectrum of injection molding capabilities delivered by its leading brands - Männer, Foboha, Synventive, Priamus, Thermoplay, and Gammaflux. The change, announced at Chinaplas 2026, reflects the integration of core technologies within a single organization: part design, material science, hot runner and mold technology, sensors & controls and injection molding. Day-to-day operations remain unchanged, including contacts, contracts, and processes. Focused on global growth Under President Marcello Vendemiati, SPECTRIX is strengthening its global market focus and expanding its footprint. This strategy is already visible with the opening of a new manufacturing facility in Pune, India. Another production site near Detroit, USA, is set to open soon. The name SPECTRIX combines “spectrum” and “plastics,” while reflecting the company’s core strengths: expertise, experience, and excellence. Its tagline, “Enduring Advantage, En
Bringg Welcomes Chris Conway as Senior Vice President and General Manager, EMEA21.4.2026 07:00:00 CEST | Press release
Conway, who scaled one of the UK’s largest delivery operations as a Bringg customer, joins to lead the company’s European expansion Bringg, the last-mile performance leader, today announced Chris Conway's appointment as Senior Vice President and General Manager, EMEA. Conway will lead Bringg's commercial strategy, customer relationships, and go-to-market operations across the region. Conway brings more than 20 years of experience in eCommerce, digital commerce, and operational transformation at three of the UK's largest grocery retailers. Most recently, he served as Managing Director of Quick Commerce and Food Operating Board Member at Co-op, where he built and scaled a £500 million-plus q-commerce operation delivering from nearly 2,000 stores. He also founded Peckish, a rapid delivery app that gave independent retailers access to q-commerce technology. He also led Asda's online grocery business to more than £1 billion in revenue and 20% market share, and ran the online commercial team
Edge Home Finance Announces Strategic Investment from Presidio Investors and Promotion of Tom Ahles to President21.4.2026 06:06:00 CEST | Press release
Edge Home Finance today announced a strategic investment from Presidio Investors (“Presidio”), marking a major milestone in the company’s continued expansion and leadership within the mortgage broker channel. As part of this transaction, Tom Ahles has been promoted to President of Edge Home Finance, reinforcing the company’s commitment to strong leadership as it enters its next phase of growth. The investment from Presidio represents a powerful alignment focused on accelerating Edge’s momentum through enhanced investment in technology, operational infrastructure, and strategic acquisitions. Presidio brings a track record of partnering with high-growth companies and scaling them through disciplined capital deployment and operational expertise. “This strategic investment is a direct reflection of the strength of our platform and the momentum we’ve built,” said Tom Ahles, President of Edge Home Finance. “With Presidio’s backing, we are positioned to move faster, invest more aggressively i
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom