Chatham Lodging Trust Sells Hilton Garden Inn Denver Tech Center Hotel For $18M
7675 East Union Avenue
$18,000,000
Building Size
—
Asset Type
Hotel
Closing
Jan 10, 2024
About this deal
AI
The Hilton Garden Inn Denver Tech Center, located at 7675 East Union Avenue in Denver, CO, has been sold in a closed transaction. The 180-room hotel was sold for approximately $18 million. The seller of the property is Jeffrey H. Fisher, who represents Chatham Lodging Trust, a hotel real estate investment trust (REIT).
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $18,000,000
- Address: 7675 East Union Avenue, Denver, CO
Chatham Lodging Trust, through Jeffrey H. Fisher, closed the sale of the Hilton Garden Inn Denver Tech Center. The transaction involved the transfer of 180 keys, with a price per key of $100,000. This successful deal marks another milestone for the hotel real estate investment trust (REIT) in the Denver market.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93