Alpental Capital, Solid Rock Group, and Taconic Capital together have announced the acquisition of the Sheraton Denver Tech Center, a 263-room hotel located in Greenwood Village, CO. The partnership purchased the Sheraton as part of the bankruptcy auction of Singapore’s Eagle Hospitality Trust, that involved the sale of 14 properties total hotels for a price of $481.9 million.
The Sheraton has been closed since March 2020, when COVID began to impact the hotel industry, and has remained closed through the prior owner’s bankruptcy process. The Sheraton’s new ownership group plans to reopen the hotel in August 2021 and occupancy is expected to rebound quickly, exceeding levels experienced under prior ownership. A multimillion-dollar capital improvement project is planned to elevate the guest experience and quality of the property.
Located just off I-25, the hotel is situated in the center of Denver’s largest office submarket that contains 36 million square of office space, including the Denver Tech Center, Inverness Business Park, and Meridian Business Park. Numerous Fortune 500 and startup companies are located within a 5-mile radius of the hotel, including Newmont Mining, Arrow Electronics, ENAVATE and Zoom Video Communications. A RTD SkyRide Bus station nearby provides convenient transportation to and from the Denver International Airport, while Downtown Denver is easily accessible via RTD Lightrail.
The full-service hotel includes 14,350 square feet of meeting space, an outdoor swimming pool, business center, exercise room, and club-level guest lounge, as well as the Redfire Restaurant & Lounge. An on-site Avis/Budget car rental kiosk provides added convenience for guests. With the ideal combination of technology and comfort, the Sheraton offers thoughtful touches and amenities to make guests’ stays more comfortable.
For more information on the Sheraton Denver Tech Center, please visit http://www.marriott.com/densi.