Courtyard by Marriott | $28.75M

The Opportunity 

Brand new 141-guestroom Courtyard by Marriott, along with interest in its attached ±55,765 square-foot parking deck (“Hotel” or “Property”). The Hotel is located within the I-225 corridor at 255 North Blackhawk Street in Aurora, Colorado, a part of the greater Denver MSA. The Property is slated to open in July 2019 and will offer amenities typical to the Courtyard by Marriott brand including a select-service restaurant and lounge, ±2,230 square feet of meeting space, business center, market pantry, fitness center, and outdoor patio with fire pit. 

The Property's location is adjacent to I-225 and the RTD Rail line allowing for easy access to all of the room night demand generators of greater Denver including Downtown Denver, Denver Tech Center, Gaylord at the Rockies, Gateway Office Park, and the Denver International Airport. Notable demand generators in the immediate area include the Colorado Science and Technology Park at Fitzimons, Colorado State Veteran's Nursing Home, the one-million square foot retail Town Center at Aurora, the City of Aurora Municipal Building, and Wings over the Rockies Air Museum. Additionally, the Property is in a prime location to benefit from the Fitzsimons Redevelopment area, which includes the University of Colorado-Anschutz Medical Center, Children's Hospital and the recently-constructed Veterans Hospital. The site's maximum development capacity is in excess of 18 million square feet of building space. 

The acquisition of the Courtyard by Marriott Aurora represents an excellent opportunity to acquire a Marriott branded hotel that is unencumbered by management within a budding submarket of top-15 RevPAR MSA at certificate of occupancy. --more--

Courtyard by Marriott | $28.75M


 

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