By Adina Marcut
A joint venture between High Street Real Estate Partners and Eagle Real Estate Partners has acquired the 1,231-key Sheraton Denver Downtown Hotel. HFF brokered the sale on behalf of the seller, a partnership operated by The Chartres Lodging Group LLC.
Located at 1550 Court Place, the full-service property is situated within a 1.9 million-square-foot mixed-use development in the heart of Denver. Sheraton Denver Downtown Hotel consists of the 22-story IM Pei Tower and the eight-story Plaza Building, which includes a 28,000-square-foot ballroom, 53 meeting rooms and nearly 32,000 square feet of retail space.
The list of amenities includes a fitness center, business center, outdoor heated swimming pool with cabanas and lounges, and various food and beverage outlets. Various points of interest, including Colorado Convention Center and Pepsi Center, are in close proximity. Additionally, Denver International Airport is approximately 25 miles away.
Senior Managing Director Eric Tupler, Managing Directors Tony Malk and Scott Hall and Associate Tyler Dumon were part of the investment advisory team that represented the seller.
“We continue to see strength in the hotel capital markets for well-located hotels such as the Sheraton Denver that have a unique position in their respective submarkets,” Malk said in a prepared statement.
In August, the 229-key Sheraton Silver Spring Hotel in Silver Spring, Md., received a $16 million bridge loan.
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