Newly Constructed Hotel Sale in Denver Metro Area Completed by Marcus & Millichap
AURORA, Colo., Feb. 24, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the newly constructed, four-story, 141-room Courtyard by Marriott Denver-Aurora hotel in Aurora, Colorado.
“Legendary Capital acquired the asset for a $27.9 million contribution valuation,” said Gordon Allred, senior managing director investments in Marcus & Millichap’s Ontario office. “The hotel has received its Certificate of Occupancy and is ready to open for business. National Hospitality Services will manage the property.” Allred and Joshua S. Tammen, vice president investments in Phoenix, handled the brokerage assignment. Adam Lewis, Marcus & Millichap’s broker of record in Colorado, assisted in closing the transaction.
Completed in 2020, the hotel is located directly behind the 2nd Avenue & Abilene light rail station near the University of Colorado Anschutz Medical Campus and equidistant from both the Denver International Airport and Downtown Denver. The city’s completely redesigned Rocky Mountain Regional VA Medical Center Hospital and one of the nation’s top life sciences research campuses, the Fitzsimons Innovation Community, are nearby.
The Courtyard by Marriott Denver-Aurora has a spacious first floor with several seating areas, a bar/lounge/Bistro area, and a 24-hour front desk. Additional amenities include a business center, three meeting rooms, a fitness center, an outdoor patio with seating and firepit, and valet laundry service. “Designed for energy cost savings, the hotel complies with the highest energy efficiency standards,” noted Tammen. A two-story, 55,715- square-foot parking deck provides ample guest parking.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.