Dual-brand hotel downtown sells for $87M

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Credit: BusinessDen.com

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DENVER — Denver’s first dual-brand hotel has sold.

Atlanta-based Noble Investment Group, acting as NF IV-I Denver CC LLC, purchased the Homewood Suites and Hampton Inn building at 550 15th St. last week, according to public records.

Noble did not respond to a request for comment.

The records associated with the real estate transfer show the sale price was at least $86.6 million, or $287,755 a room, for the 302-unit property. Hotel sales typically involve a personal property component that isn’t always reflected in the figure that appears in public records.

Carey Watermark Investors Inc., which purchased the hotel in June 2014 for $81.5 million, sold the property, records show. The firm still owns the 403-room Embassy Suites at 1420 Stout St., which it bought in 2015.

Read more at BusinessDen.com.

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