Chatham Lodging Trust, a hotel real estate investment trust focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, has closed on the sale of the 180-room Hilton Garden Inn Denver Tech Center for approximately $18 million. Other terms were not disclosed.
An approximate $6 million renovation of the hotel was planned for 2023 but was not completed due to the pending sale. Proceeds from the sale of the hotel will be used for corporate investments and to repay debt.
Chatham Lodging Trust owns 38 hotels with 5,735 rooms/suites in 16 states and the District of Columbia.