Alpental Capital, Solid Rock Group and Taconic Capital Advisors jointly have sold the Sheraton Denver Tech Center for $16.2 million to an undisclosed buyer. The 263-room hotel in Greenwood Village, Co., last sold for $9.2 million as part of a bankruptcy auction in June 2021. The partnership completed a capital improvement plan and reopened the hotel in August 2021, after being closed by the previous owner in March 2020.
“We are proud to see this investment through its life cycle from acquisition to disposition, despite the broader economic and capital markets headwinds," Greg Wilson, managing partner at Alpental Capital. "The transaction represents one of the few hotel investments successfully taken full circle since the beginning of COVID.”
Located off I-25, the hotel is in the center of Denver’s largest office submarket with 36 million square of office space, including the Denver Tech Center, Inverness Business Park and Meridian Business Park. Several Fortune 500 and startup companies are located within a 5-mile radius of the hotel. A RTD SkyRide Bus station nearby provides transportation to and from the Denver International Airport, while downtown Denver is accessible via RTD Lightrail.
The full-service hotel includes 8,300-square-feet of meeting space, an outdoor swimming pool, business center, exercise room, club-level guest lounge and the Redfire restaurant and lounge. The hotel also has an on-site Avis/Budget car rental kiosk.