VRE acquired a resort style Hampton Inn & Suites located in Tempe, Arizona via a 1031 exchange and profitably operated the property for several years. With the goal of increasing the cash flow and value of the asset the company created a newly designed campus which involved demolishing one third of the existing rooms and constructing a new multi-story and highly visible Hampton Inn & Suites. The redevelopment integrated the legacy hotel with a striking new hotel, which became the highest rated hotel in the market, and increased the total number of hotel rooms on the campus by 45%.