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Chatham Lodging Trust Sells Hilton Garden Inn Denver Tech Center Hotel For $18M
SOLD
$18,000,000
Colorado
See Similar DealsHotel
Sold 01/10/2024
SOLD
Chatham Lodging Trust Sells Hilton Garden Inn Denver Tech Center Hotel For $18M
7675 East Union Avenue
See Similar DealsHotel
Sold 01/10/2024
Summary
COLORADO
Asset Type:Hotel
Transaction Type:Sale
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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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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