COLORADO SPRINGS-Rockwood Real Estate Advisors, a full-service real estate investment banking firm, announced the sale of the 500-room Crowne Plaza Hotel located in Colorado Springs,.

David Buddemeyer, receiver, sold the hotel to 513 Hotels, LTD for an undisclosed amount. The property is located at exit 138 of Interstate-25, just south of downtown.
The Crowne Plaza Hotel was constructed in 1974, expanded in 1985, and occupies 20.3 acres of land. The hotel has 49,548 square feet of meeting space and also offers a fully equipped 24-hour fitness center and basketball courts as well as indoor and outdoor pools. It is well situated to accommodate activities at the many military, government and related businesses, including Fort Carson, Peterson Air Force Base, Schriever Air Force Base, Cheyenne Mountain Air Station, and the US Air Force Academy. Colorado Springs is also a haven for leisure and sports-related travelers who visit the area for the many outdoor attractions as well as such premiere sports facilities as the US Olympic Complex and Colorado Springs World Arena.

Rockwood Real Estate Advisors is a full-service real estate investment banking firm offering a broad range of financial advisory, transactional services, and business solutions for clients in the commercial real estate industry. In 2012, the firm closed 399 deals totaling over $3.2 billion in debt, equity, and sales transactions. Headquartered in New York, Rockwood has 15 offices across the country.