Denver Sheraton sold for $210 million

Real estate investors AVR Realty and David Werner Real Estate Investments bought the Sheraton Hotel in Denver for $210 million.

The 1,200-room hotel was built in 1980, and was purchased by Werner and AVR from a partnership between a real estate fund related to Goldman Sachs and California-based Chartres Lodging. Goldman and Chartres purchased the hotel for $176.19 million in 2008, and invested $70 million in the hotel for renovations, adding a new lobby and updated guestrooms.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

“Denver is really one of the spotlights of the country for downtowns that not only support business but culture and sports and is becoming 24/7 in terms of a place to live,” HREC founder and CEO Mike Cahill told BusinessDen. “That has created the dynamic environment that investors love."

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