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Phoenix-based Pivotal Group is investing $100 million to purchase and renovate the Hilton Phoenix Resort at the Peak, an iconic property developed in 1977.

Pivotal is acquiring the resort from New York-based Fortress Investment Group, which had purchased the property for $51.35 million in 2019.

When Gosnell Development Corp. built the property at 7677 N. 16th St., it was named The Pointe at Squaw Peak. Gosnell also built The Pointe at Tapatio Cliffs and The Pointe at South Mountain in Phoenix.