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Sold Once. Sold Twice. Sold Again and Again. - A Demonstration of Trust, Consistency, and Transformation

The Brief

Some properties are sold once. This one has been sold three times — and NewGen Advisory has been at the table every time. The story of 9880 N. Scottsdale Road is not just a story about a building. It’s a story about what happens when buyers and sellers consistently trust the same advisor to understand an asset’s evolving value, find the right buyer for what it is today, and position it for what it could become next. The property was originally constructed in 1996 as a Homewood Suites by Hilton — one of the hospitality industry’s original extended-stay concepts — ideally positioned on one of North Scottsdale’s most trafficked corridors. It was built for guests who needed more than a room: full kitchens, generous suite footprints, and the infrastructure of home, delivered in a hotel format. That extended-stay DNA would prove remarkably durable — and remarkably flexible — across every subsequent chapter of this property’s life.

Key Facts

Scottsdale, AZ

114 hotel keys (original Homewood Suites configuration) | Converted to 85 luxury apartments by Sterling Real Estate Partners | Currently operating as Metro Scottsdale Extended Stay

NewGen Advisory represented the original Buyer in the acquisitions in early 2000s. Since then, NewGen Advisory transacted the same property two more times to new buyers and creating a new opportunity each time.

The buyer pool for this asset has shifted meaningfully with each transaction, and that evolution is itself part of what makes this case study instructive. In the first NewGen-led sale, the universe of qualified buyers was anchored in the hospitality investment community — owner-operators and private investors comfortable underwriting an extended-stay hotel on a premier North Scottsdale corridor. The Buyer fit that profile precisely: a hospitality-minded buyer who understood the asset in its hotel form and was prepared to operate it as such. By the second transaction, the buyer profile had shifted entirely. The seller wasn't looking for a hotel operator — they needed a developer with the capital, the vision, and the entitlement sophistication to execute a hotel-to-residential conversion in a market where that thesis was still being proven. That narrowed the field considerably. Conversion-capable buyers who could manage a zoning contingency, absorb a franchise termination, and execute a multimillion-dollar repositioning represent a small slice of the broader investment universe. NewGen found one in Sterling Real Estate Partners. For the third sale, the asset had transformed again — now a fully converted luxury apartment community — which opened the door to a multifamily-oriented buyer pool while simultaneously closing it to most traditional hotel investors. Zona Capital emerged as the right buyer: a group with the appetite and operational capability to take a repositioned residential asset and run it as a flexible extended-stay and apartment rental platform. Each transaction required NewGen to essentially rebuild the buyer strategy from scratch — identifying who the right buyer was for what the property had become, not what it had been. That ability to reframe the asset for a new audience, across three different use cases and three different market moments, is precisely what kept this property transacting — and kept NewGen at the center of every deal.

What makes this case study exceptional isn't any single transaction — it's the continuity. NewGen Advisory has maintained an intimate understanding of this asset across multiple ownership groups, multiple use cases, and multiple market cycles. That institutional knowledge compounds with every transaction, enabling NewGen to advise each successive seller on how to position the property, and each successive buyer on how to underwrite it — with a depth of context no outside broker could replicate. For the Sale 2 engagement, NewGen identified a developer-buyer capable of executing a hotel-to-residential conversion in a market where that thesis was still emerging. The deal was structured to accommodate the buyer's zoning process, with earnest money milestones tied to the change-of-use approval — protecting the seller while giving the buyer the runway they needed to confirm entitlement viability. For Sale 3, NewGen served as dual representative — managing both sides of a $22,000,000 transaction with a compressed timeline, ensuring a clean transfer of all conversion assets and third-party reports so Zona Capital could step into an asset that was shovel-ready for its next iteration. The extended-stay nature of the property has been a through-line across every chapter. Whether operating as a Hilton-branded hotel, a luxury apartment community, or the current Metro Scottsdale Extended Stay — which offers both furnished and unfurnished units for longer-term residents — the building's original bones have always supported a resident who wants more than a standard room. That flexibility of use is part of what makes the asset perpetually relevant, and part of what NewGen has consistently known how to sell.

The Challenge

Every transaction at this address presented a distinct challenge. The first sale NewGen handled required identifying a buyer who could see the Homewood’s value in a post-flag context, at a moment when extended-stay hotels were being actively reevaluated as hospitality assets and alternative-use candidates. The second required finding a buyer — Sterling Real Estate Partners — capable of not just acquiring a 114-key hotel but executing a complex zoning conversion and multimillion-dollar repositioning into 85 luxury apartments, complete with private balconies, a resort-style pool, a coworking space, and a movie theater. The deal required a 45-day due diligence period, a separate zoning contingency, and careful coordination of franchise termination requirements before Sterling could take the property in the direction they envisioned. The third transaction — selling the now-converted apartment asset from Sterling to Zona Capital at $22,000,000 — required NewGen to represent both buyer and seller simultaneously, a 21-day due diligence window, and special provisions requiring the assignment of all architectural drawings and third-party conversion reports at closing. The property had changed fundamentally between Sale 2 and Sale 3. The buyer pool had changed. The valuation framework had changed. NewGen navigated all of it. Now, with the property operating as Metro Scottsdale Extended Stay under Zona Capital, NewGen is actively marketing it again demonstrating that the relationship between NewGen and this asset is ongoing, not transactional.

The Outcome

Three completed transactions. Three ownership groups. Three distinct versions of the same asset — each one unlocked by a buyer who saw something the previous owner had built and was ready to carry forward in a new direction. What ties every chapter together isn’t the building. It’s the advisor. Each seller who has walked away from this property did so having trusted NewGen Advisory to find the right buyer at the right moment — not just a buyer willing to close, but one equipped to steward the asset into its next iteration. Woodbridge Hospitality trusted NewGen to find a developer capable of seeing past a hotel flag and into a conversion opportunity. Sterling Real Estate Partners trusted NewGen to bring a buyer who could absorb a fully repositioned luxury asset on a compressed timeline and perform without friction. Zona Capital trusted NewGen to represent them into the acquisition — and then, when the time came to exit, trusted them again to lead the sale. That kind of continuity doesn’t happen by accident. It is built transaction by transaction, through execution that earns the next call. The extended-stay nature of this property has been a quiet constant through every transformation. From its origins as a Homewood Suites — purpose-built for the guest who needed a home away from home — through its reinvention as a luxury apartment community, to its current life as Metro Scottsdale Extended Stay, the asset has always served a resident who wants more than a room. Full kitchens. Generous layouts. The infrastructure of longer-term living. That DNA has proven remarkably adaptable, and remarkably sellable, in every market cycle NewGen has taken it through. NewGen Advisory currently holds the exclusive listing on Metro Scottsdale Extended Stay. The fourth chapter of this property’s story is being written now — and once again, NewGen is holding the pen.

"Most brokers sell a property once and move on. We've sold this one three times and we're listing it again. That's not luck — that's what happens when sellers and buyers trust you enough to keep coming back. Every time this asset changes hands, it changes form. Our job is to understand what it is, find who needs it, and close the deal. We've done it three times here. We'll do it again."

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Marketing Manager

Jourdyn Wigg

Jourdyn leads the strategic marketing initiatives for NewGen Advisory, overseeing brand development, market positioning, communications, and business growth efforts across the firm.

With more than a decade of experience in marketing and business development, Jourdyn specializes in building brands, creating demand-generation strategies, developing thought leadership programs, and executing integrated marketing campaigns that drive measurable business results. Her expertise spans digital marketing, public relations, content strategy, events, social media, lead generation, and corporate communications.

At NewGen, Jourdyn is responsible for shaping and executing the firm’s marketing strategy, ensuring consistent brand visibility across all channels while supporting advisors, clients, and strategic initiatives nationwide. She works closely with leadership to develop campaigns, elevate industry presence, strengthen client engagement, and position NewGen as a trusted advisor within the hospitality investment sector.

Jourdyn holds a Bachelor of Arts in Mass Communication and Media Studies from Arizona State University and a Master of Business Administration (MBA) with an emphasis in Marketing from Grand Canyon University.

Most mornings you’ll find Jourdyn in the gym before sunrise and spending time with her husband and children. 

Pipeline & Transaction Assistant

Allysia Howerton

Allysia Howerton joined NewGen Advisory in 2026 as a Pipeline & Transaction Assistant, relocating from St. Louis, MO to Arizona to take on the role. She brings a background spanning property management, client services, sales, and administrative leadership, with a track record of managing complex workflows and keeping transactions moving efficiently from inception to close.

Known for her organization, attention to detail, and relationship-driven approach, Allysia supports transaction management, pipeline coordination, and day-to-day brokerage operations — and is passionate about growing her career within the hospitality real estate industry.

Outside of work, she enjoys discovering new coffee shops and restaurants, traveling to experience new cultures, and spending time with her dogs.

Real Estate Assistant

Josie Numendahl

2 years

Josie Numedahl joined NewGen Advisory in July 2024 as a Real Estate Assistant (REA). Originally from Iowa, she relocated to Arizona to pursue her education, graduating from Grand Canyon University in 2022 with a Bachelor’s degree in Marketing and Advertising.

Josie began her professional career as a recruiter in the finance and accounting sector, and brings that client-facing, detail-oriented background to her work at NewGen.

Outside of work, she enjoys reading, hiking, exploring local coffee shops, and spending time with friends.

Senior Accountant

Anthony Lepore

X years

Anthony is the Staff Accountant for NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC, working directly under CFO Michael Lepore to handle day-to-day accounting functions across all NewGen operations.

Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.

NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets.

Prior to joining NewGen, Anthony completed coursework at Paradise Valley Community College before co-founding a family business that produced custom-wrapped die-cast model cars for corporate clients — handling vehicle customization, display stands, and branded packaging. Serving as Director of Operations, he gained hands-on experience in management, production workflows, and running a business from the ground up.

Outside of work, Anthony is a lifelong ice hockey player with a passion for motorsports — particularly motocross and classic cars. Among his favorites: the 1963 C2 Corvette Sting Ray, the 1965 Shelby Cobra S/C, and the 1971 Plymouth Hemi ‘Cuda. He hopes to one day own and operate a bookkeeping firm serving small businesses.

Director of Operations

Nicholas Renckens

X years

Nick serves as Director of Operations for NewGen Worldwide and NewGen Advisory, bringing a detail-oriented, forward-thinking approach to supporting the company’s continued growth. A Minneapolis native, Nick studied at Denison University and the University of Minnesota before making his way to Arizona, where he now lives in Mesa.

He spent a decade in the hospitality industry as a server, bartender, and restaurant manager — hands-on experience that gave him a strong operational foundation and a natural fit within NewGen’s hospitality-focused business.

Outside of work, Nick is an avid writer with a passion for art, photography, and travel, and enjoys documenting his experiences through the lens.

Chief of Staff

Nycole Gonsalves

X years

Nycole serves as Chief of Staff at NewGen Advisory, where she trains and manages the Real Estate Assistant (REA) team. She works closely with REAs to ensure agents receive consistent, high-quality support throughout every stage of a deal — from contract to close.

Alongside the Office Manager, Nycole leads onboarding for new agents, REAs, and team members across NewGen Worldwide’s subsidiaries, and has developed a training library to streamline the process for incoming staff. She is also actively involved in evaluating and implementing new platforms to improve agent and REA workflows, while providing leadership with the data needed to monitor KPIs and track revenue goals.

Her background in franchise operations management — spanning startups to scaling franchises — makes her a versatile and valuable member of the NewGen team.

Chief Financial Officer

Michael Lepore

20+ years

Michael is the Chief Financial Officer of NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC — a diversified real estate investment and capital solutions firm focused on creative, flexible solutions. Michael and his team oversee day-to-day accounting, budgeting, forecasting, and financial modeling across all NewGen operations.

Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.

NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets.

Prior to joining NewGen, Michael built over 20 years of experience in accounting, tax, and operations management serving small to mid-sized businesses. He holds active CPA licenses in both New York and Arizona. His career spans public accounting — including a role as Audit Manager at PricewaterhouseCoopers — as well as private accounting and business ownership, giving him a broad, hands-on command of accounting and management functions. That dual perspective allows him to bring both tax strategy and business strategy to bear when evaluating financial decisions. He is a member of the American Institute of Certified Public Accountants (AICPA) and the Arizona Society of Certified Public Accountants (ASCPA).

A proud Italian-American, Michael lives in Scottsdale with his wife, Patty, and their three children, Alyssa, Anthony, and Joey. Outside of work, he coaches ice hockey and has a passion for cooking Italian food.

Co-Founder and Principal

Kyle Walker

X years

Kyle is a co-founder, Principal, and Chief Executive Officer of NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC — a diversified real estate investment firm focused on creative, flexible solutions. Beyond his broad responsibilities as CEO, Kyle’s primary focus is leading Green Card Fund, developing and implementing capital solutions domestically and internationally, and identifying attractive investment opportunities.

Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.

NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets — a natural evolution of NewGen Worldwide’s business model, built on business partners Girish Patel and Dan Rama’s lifetime experience in the industry. Kyle’s financial acumen and creative approach to structuring deals help NewGen Advisory clients identify and secure profitable opportunities.

Kyle earned a B.A. in Interdisciplinary Studies from Arizona State University with a focus in Business and Urban Planning. He has long been involved with the Greater Phoenix Economic Council’s (GPEC) International Leadership Council, and in 2016 was elected to the Board of Directors of Invest in the USA (IIUSA), the national EB-5 trade association, where he actively contributes to legislative reform efforts and the permanent reauthorization of the EB-5 program.

Kyle splits his time between company offices in Phoenix, AZ and Washington, D.C. Outside of work, he is an avid reader, global traveler, and snowboarder — and after logging over a million miles as a passenger, he has recently taken to the cockpit, learning to fly himself.

Co-Founder and Principal

Girish Patel

20+ years

Girish Patel is a co-founder and Principal of NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC — a diversified real estate investment and capital solutions firm focused on creative, flexible solutions across hospitality and healthcare. Among his core responsibilities are leading strategic initiatives, overseeing financial management, and driving real estate investment acquisitions.

Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.

NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets — a natural evolution of NewGen Worldwide’s business model, grounded in Girish’s and business partner Dan Rama’s lifetime experience in the industry. Having grown up in his family’s hotel business as an immigrant, Girish developed a bottom-up understanding of hospitality — mastering operations before becoming an investor, lender, and consultant. That ground-level perspective, tested across multiple economic cycles, underpins his 20+ years as a successful business owner and brings a distinctive depth of insight to NGA’s clients and investors.

Committed to continuous learning and giving back, Girish established the RC Patel Memorial Scholarship for students pursuing careers in real estate investment. He also serves on the Board of Directors of Global Ties Arizona, an organization that strengthens international relationships by making exchange programs more impactful.

Co-Founder, Principal and Managing Broker

Dinesh “Dan” Rama

X years

Dan is a co-founder and Principal of NewGen Worldwide, LLC and its subsidiaries Green Card Fund, LLC and NewGen Advisory, LLC — a diversified real estate investment and capital solutions firm focused on creative, flexible solutions. His primary role is leading NewGen Advisory and serving as its Designated Broker in Arizona.

Green Card Fund (greencardfund.com) is a USCIS-recognized EB-5 Regional Center authorized to raise foreign capital for domestic development projects. EB-5 investors fund community-need projects and receive an immigration benefit in exchange for job creation. To date, GCF has facilitated over $125 million in foreign direct investment, delivered immigration benefits to more than 250 families, and created over 2,500 jobs in healthcare, education, and hospitality across Arizona and Washington, D.C.

NewGen Advisory (newgenadv.com) is a full-service commercial real estate brokerage specializing in hospitality assets — a natural evolution of NewGen Worldwide’s business model, built on Dan’s and business partner Girish Patel’s lifetime experience in the industry. Throughout his career, Dan has been involved in the disposition of over $600 million in hospitality assets, advising clients on acquisitions, mergers, and divestitures across the United States.

Dan began his career as a hotel operator and owner in 1994 following his studies at the University of Arizona, going on to build a portfolio as a franchisee of Red Brick Pizza, Holiday Inn, Ramada Inn, and Comfort Suites. He holds General Manager Certifications from Holiday Inn, Motel 6, and Days Inn, and is a Certified Hotel Owner (CHO) with a Certification for Hotel Industry Analytics (CHIA).

Beyond his company responsibilities, Dan is an active industry voice. He serves as an Ambassador with the Asian American Hotel Owners Association (AAHOA) — the largest hospitality owners association in the U.S. — and previously served as its Southwest Regional Director. He also sits on the Board of Directors of the Arizona Lodging and Tourism Association (AZLTA).

Dan lives in Gilbert, AZ with his wife, Chetna, their son Suraj, and their daughter Sonya. Outside of work, he enjoys golf and cheering on the Denver Broncos.

Chief Executive Officer · Chief Legal Officer

Suraj Bhakta

15+ years

Suraj is the Chief Legal Officer of NewGen Worldwide, LLC and a member of its senior leadership team, where he contributes to the operational management and strategic planning of the company and its subsidiaries — including Green Card Fund and NewGen Advisory. NewGen Worldwide is a diversified firm engaged in real estate investments, creative capital solutions, and advisory services for the entrepreneurial investor.

Suraj first served as outside counsel for Green Card Fund and NewGen Worldwide from 2008 to 2014 before joining the organization as Chief Legal Officer. In this role, he leads the company’s legal, regulatory, and corporate governance functions, with responsibility spanning real estate, risk management, contractual relations, and investment strategies. He also oversees the business administration of NewGen Advisory, a full-service commercial real estate brokerage specializing in hospitality assets.

Prior to joining NewGen, Suraj was Managing Partner of Bhakta & Associates, PLLC, a full-service business law firm where he represented a broad range of clients across acquisitions and sales, corporate structuring, contracts, franchise law, development and construction, and equity and debt financing.

A native of Ohio, Suraj graduated from The Ohio State University in 1999 with a B.S. in Business Administration and earned his J.D. from Case Western Reserve University in 2002. He resides in Peoria, AZ with his wife, Neena, and their two sons, Shiv and Soham.