A group managed by Maryland-based Real Hospitality Group has acquired the Aloft Broomfield Denver hotel for $19.32 million, or $101,684 per key.
The acquisition by AHP Real 3 Denver SPV LLC represents Real Hospitality’s first asset in Colorado, according to Chief Investment Officer Joseph Yi.
“We like the market, we like the asset, we like the location, so it just made sense for us,” he said. The company views Denver as a growing market with good long-term prospects, said Yi.
An affiliate of Gentry Mills Capital sold the 139-unit hotel in “a very low-key, private sale,” commented Fuller Real Estate’s Paul Roberts, who was involved in the transaction. The hotel wasn’t officially listed for sale.
Completed in 2009, the Aloft is located at 8300 Arista Place, within the Arista mixed-use development on U.S. Highway 36.
The five-story hotel has 3,485 square feet of meeting space, as well as two food and beverage options: a grab-and-go snack shop and the W Xyz bar, a lobby bar that offers food service. There is an indoor saline swimming pool, 24-hour fitness and business centers, and complimentary high-speed Wi-Fi.
Guest rooms have 9-foot ceilings, large windows, 42-inch LCD televisions, minirefrigerators, workspaces and walk-in showers.
The Aloft Broomfield Denver is located midway between Boulder and Denver, with proximity to amenities within Arista as well as nearby business parks, including Westmoor Technology Park and Interlocken Advanced Technology Environment.
Gentry Mills bought the Aloft hotel for $13.54 million in 2014.