DENVER-An affiliate of the Hotel Group, a Seattle based hotel owner/operator has sold the Sheraton Hotel-Denver Tech Center here. The buyer was a joint venture comprised of Waramaug Investments, Interstate Hotel and Resorts and an institutional opportunity fund.
Doug Dreher, president and CEO of the Hotel Group, points out that “The sale of the Sheraton Denver Tech Center—which was over a year in the making—would not have occurred without the tireless commitment and diligence of my partners, our corporate team and the property level managers and associates.”
The sale of the 262-room, first-class, full-service hotel located in the heart of the Denver Southeast commercial corridor was handled by Mike Cahill, CEO and founder of HREC Investment Advisors. HREC tells GlobeSt.com that they cannot disclose the price at this time.
The Sheraton Hotel is located roughly 13 miles south of downtown Denver.
The hotel maintains superior visibility along Interstate 25 and Arapahoe Road, a major east/ west local thoroughfare. The Hotel facilities includes over 10,000 square feet of meeting space, the Redfire restaurant, a business center, outdoor swimming pool and whirlpool, fitness center and a gift shop.
Paul Nussbaum, managing director of Waramaug Hospitality, adds “This is the only Sheraton or Starwood branded hotel in the Denver Tech Center area and we will benefit from the consistent travel of Starwood's Preferred Guests to this market. With the substantial renovations we will complete to the guest rooms, public and meeting space and recreation area and as the market continues to recover to pre recession levels, we expect the hotel to quickly gain market share.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
