The owners of the Adero Scottsdale resort have failed to make its mortgage payments since June, leading a Maricopa County judge to place the property under the control of a receiver.
On Dec. 6., Superior Court Judge Christopher Coury appointed Chris Neilson, the managing partner of Trigild IVL, as a receiver over the Adero Scottsdale.
As the receiver, or court-appointed caretaker of the property, Neilson has been asked to “repair, restore, manage, maintain, list, market and sell, convey or transfer the collateral, in whole or in part, provided that any sale of the real property, if any, is approved and confirmed” by the court, according to the complaint filed by the property's lender in Maricopa County. The receiver could also take custody of all credit card accounts connected to the property, while also taking over negotiation agreements with hotel giant Marriott International Inc. (Nasdaq: MAR) — which had entered into a franchise agreement with the resort in 2019, court records show.
