DENVER—Marcus & Millichap, a commercial real estate investment services firm, has arranged the sale of three Fairfield Inn & Suites hotels here. The portfolio contains a total of 225 rooms.
“The hotels are all located in stable submarkets within the Denver metropolitan statistical area (MSA), which is one of the top-performing hospitality markets in the country,” said Neville Rustomjee of Marcus & Millichap’s national hospitality group. “The properties’ geographical separation and prominent locations capitalize on a diverse array of demand generators and the entire MSA is supported by a large employment base that attracts young, educated professionals from around the country.”
Rustomjee represented the seller, a hotelier located in Wyoming, and procured the buyer, an Arizona-based investment group.
The properties are Fairfield Inn & Suites Denver Aurora/Medical Center, Aurora, CO, which has 82 rooms; Fairfield Inn & Suites Denver Tech Center/South, Highlands Ranch, CO, which has 61 rooms; and Fairfield Inn & Suites Denver North/Westminster, Westminster, CO, which has 82 rooms.
All of the hotels are accessible from nearby interstate highways, and present or future light rail stations that connect to downtown Denver and the Denver International Airport.