Alpental Capital, Solid Rock Group, and Taconic Capital Advisors jointly announced the sale of the Sheraton Denver Tech Center for $16.2 million. The 263-room hotel located in Greenwood Village, CO last sold for $9.2 million as part of a bankruptcy auction in June 2021. The partnership completed an extensive capital improvement plan and reopened the hotel in August 2021, after being closed by the previous owner in March 2020.
“We are proud to see this investment through its lifecycle from acquisition to disposition, despite the broader economic and capital markets headwinds. The transaction represents one of the few hotel investments successfully taken full circle since the beginning of COVID,” said Greg Wilson of Alpental Capital.
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 8,300 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.
For more information on the Sheraton Denver Tech Center, please visit http://www.marriott.com/densi.