This Week’s Denver Deal Sheet
Chatham Lodging Trust, a real estate investment firm based in West Palm Beach, Florida, sold the 180-room Hilton Garden Inn Denver Tech Center for roughly $18M.
The buyer was not disclosed.
A $6M renovation for the property was scheduled for 2023 but was not completed because of the sale. Chatham Lodging Trust will use the proceeds to pay down corporate debt, according to a press release.
PEOPLE
Hotel investment and development firm Aparium Hotel Group named George Prine as general manager of Denver’s Populous hotel. Prine has more than 25 years of industry experience and previously worked at The Yarrow Group and Le Meridien Hotels.
SALES
NorthPeak Commercial Advisors brokered the sale of a 16-unit multifamily building at 1415 Yosemite St. in Denver for $2M, or $125K per unit. NorthPeak’s Dan Hawthorne worked with the seller in the transaction.
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Ascent on Main, a 51-key boutique hotel located at 18595 Mainstreet in Parker, sold for $8.25M. Avison Young’s Chris Kilcullen represented the seller, Independence Bank, in the transaction. Eagle Point Hotel Partners, a hospitality investment firm in New York, was the buyer.
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KT Development purchased a 3-acre parcel at the Potomac Park & Industrial Complex in Centennial for $3M with plans to develop a 122-room WoodSpring Suites Hotel. Avison Young principals Rick Egitto and Howard Schmidt represented the buyer.
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DCP Arvada LLC purchased three single-story buildings located at 6618-6680 Wadsworth Blvd. in Arvada for $2.7M. Altogether, the buildings make up more than 29K SF and sit on 3.7 acres. Matt Call of NavPoint Real Estate Group represented the buyer, while Jay Modglin of Kentwood City Properties represented the seller, Green Meadows Enterprises LLC.
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SRS Real Estate Partners sold a newly developed 7-Eleven property located at 4400 Harlan Court in Wheat Ridge for $8.3M. SRS Capital Markets Vice President Ryan Tomkins represented the seller, Cadence Capital. The buyer was an unnamed family office from California.
LEASES
Wisconsin-based food service and janitorial supply distribution company RJ Schinner inked a lease for 60K SF of industrial space at 19080 E. 38th Ave., also known as Clarion Gateway 27, in Aurora. CBRE’s Jeremy Ballenger, Tyler Carner and Jim Bolt represented the landlord, Clarion Partners.
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Marrow LLC leased 6.3K SF of office space at 3784 South Inca St. in Englewood for five years. NavPoint Real Estate Group’s Matt Kulbe and Jeff Brandon represented the landlord.
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Green Shark Fitness leased nearly 2.1K SF of retail space at 9325 Dorchester St. in Highlands Ranch for 10 years. Jeff Brandon of NavPoint Real Estate Group represented the tenant.
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Sawa Foods, a Mediterranean restaurant, leased more than 3K SF at 1737 E. Evans Ave., near the University of Denver. Paul Cattin, Adam Hubschman and Solomon Stark of NAI Shames Makovsky represented the landlord, 1737 E Evans, LLC.
