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
Quectel Launches FCE870X and FME170X Tri-band Wi-Fi 7 Modules With Bluetooth 6.0 for Set-top Boxes, Gaming Devices and More30.7.2026 10:00:00 CEST | Press release
Quectel Wireless Solutions, a global end-to-end IoT solutions provider, today announces the FCE870X and FME170X tri-band Wi-Fi 7 modules, powered by the Synaptics SYN4384 chipset and designed for set-top boxes, gaming devices, digital signage, VR/AR headsets, smart gateways and other high-performance connected products. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260730986067/en/ Quectel launches FCE870X and FME170X tri-band Wi-Fi 7 modules with Bluetooth 6.0 for set-top boxes, gaming devices and more The FCE870X and FME170X share the same high-end feature set and differ only in form factor. The FCE870X Wi-Fi 7 module uses a Compact LCC package for embedded designs, while the FME170X Wi-Fi 7 module uses a Compact M.2 package for modular, slot-based systems. Device makers can choose the option that best fits their platform without compromising wireless performance. “These high-end Wi-Fi 7 modules are engineered to run acro
Singapore Selects Thales for Next-generation AI-powered Air Traffic Management System Serving One of Asia’s Busiest Airspaces30.7.2026 10:00:00 CEST | Press release
To address the rapid growth in air traffic, the Civil Aviation Authority of Singapore (CAAS) has selected Thales to develop Singapore’s NexGen Air Traffic Management System (ATMS) and air traffic control radars. Scheduled to enter operational service by 2030, the NexGen ATMS will enable air traffic controllers to provide air traffic control services safely and efficiently, handling up to one million aircraft movements annually. Powered by advanced cybersecurity and Artificial Intelligence technologies, the NexGen ATMS provides an integrated, highly automated environment that enhances controller decision-making, increases operational efficiency, and further strengthens flight safety. The Civil Aviation Authority of Singapore (CAAS) has awarded Thales a landmark contract to develop a new NexGen Air Traffic Management System (ATMS) and air traffic control radars, marking a major step towards a more efficient, safer and more sustainable aviation ecosystem. The NexGen ATMS will replace the
Western Europe’s Fashion E-commerce Market Matures, Representing 20% of Online Consumer Spending as Gen Z Drives momentum30.7.2026 09:00:00 CEST | Press release
Second-hand platforms and value-focused retailers are disrupting Western Europe’s fashion market, which accounts for nearly one-fifth of online spending Fashion remains one of the largest and most resilient categories in Western European e-commerce, accounting for approximately 20% of online consumer spending across key markets, according to the latest NIQ (NYSE: NIQ) report, Decoding the Fashion E-commerce European Market in 2026. The study analyzes the behaviour of more than 2 million online shoppers across 10 European countries, providing one of the most comprehensive views of the region’s online fashion landscape. While fashion continues to play a central role in e-commerce, the category is entering a new phase of maturity. Across Europe, total e-commerce sales grew by 5% over the past year, compared with 3% growth for online fashion sales, highlighting the need for brands and retailers to find new avenues for growth. Key findings of the report: Fashion remains a core e-commerce ca
Takeda Announces FY2026 First Quarter Results, Near-Term Launch Preparations and Pipeline Progress on Track30.7.2026 08:37:00 CEST | Press release
Solid first quarter performance broadly in line with guidance, underpinned by resilient demand across core in-line brandsCommercial execution and late-stage pipeline investments on schedule, including first approval for ORZEYFULTM (oveporexton) in China, setting the foundation for next wave of medicinesNo change to FY2026 full-year forecast and management guidance Takeda (TOKYO:4502/NYSE:TAK) announced financial results for the first quarter of fiscal year 2026 (April 1, 2026 to June 30, 2026), marking a period of disciplined execution and operational momentum. Takeda leveraged the resilient performance of its core in-line portfolio to support its long-term strategy, advancing commercial launch preparations and driving critical R&D pipeline milestones. With a clear operational trajectory established in the first quarter and under a new operating model, Takeda remains on track to deliver its strategic and financial commitments for the fiscal year. FY2026 First Quarter Highlights Revenue
Coulson Aviation Introduces CFR HALO, a Long-Term Fire Retardant Engineered for Modern Aerial Firefighting30.7.2026 08:03:00 CEST | Press release
First Coulson EmberWorks product is undergoing qualification in France and evaluation for inclusion on the USDA Forest Service Qualified Products List Coulson Aviation today introduced CFR HALO, a next-generation long-term fire retardant engineered specifically for modern aircraft, tank systems, and wildfire missions. It is the first product from Coulson EmberWorks, the company’s research and development division dedicated to advancing aerial firefighting technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260729960073/en/ Coulson Aviation has introduced CFR HALO, a next-generation long-term fire retardant engineered specifically for modern aircraft, tank systems and wildfire missions. It is designed with mission-optimized viscosity and flow characteristics to improve drop cohesion, reduce airborne drift, and support more accurate placement within the intended target area. CFR HALO is currently advancing through ind
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