Laramar Group Acquires Royal Palace Motel In Denver For $7.3M

1565 North Colorado Boulevard

Hotel

Sold 122 days ago

Summary

Sale

COLORADO

Hotel

Laramar Group has acquired the closed Royal Palace Motel at 1565 N. Colorado Blvd. in Denver, CO for $7.3 million. The property is a hotel asset and the transaction took place on January 16, 2024.

Summary of transaction details

Property Type: Hotel
Transaction Amount: $7,300,000
Address: 1565 N. Colorado Blvd., Denver, CO
Market: Denver, CO

The buyer in this transaction is Jeffrey Elowe, representing the Laramar Group. Meanwhile, the seller is Jeff Oberg. The Laramar Group plans to develop a six-story apartment building with at least 153 units on the acquired property.

Details

Deal Summary

SOLD

IMAGE: Jeffrey Elowe DATE: 01/16/2024 ADDRESS: 1565 N. Colorado Blvd. MARKET: Denver, CO ASSET TYPE: Hotel BUYER: Jeffrey Elowe - Laramar Group SELLER: Jeff Oberg SALE PRICE: $7,300,000 NOTE: Laramar Group has acquired the closed Royal Palace Motel at 1565 N. Colorado Blvd. for $7.3 million with plans to develop a six-story apartment building with at least 153 units.

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Address1565 North Colorado Boulevard

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