SAN FRANCISCO—Cushman & Wakefield represented Trifecta Hotel D Owner, LLC in the sale of the Renaissance Hotel, located in Denver, CO, to a privately owned company with offices in Southern California and Hong Kong.
The Renaissance features 400 guestrooms, including 11 suites, and approximately 30,000 sq. ft. of meeting and function space, inclusive of its 11,700-sq.-ft. Colorado Ballroom, capable of accommodating 1,500 guests. The hotel’s Executive Meeting Center is certified by the International Association of Conference Centers and contains 22 flexible conference and banquet rooms.
“We received overwhelming interest at a global level, due to the property’s exceptional performance and quantifiable upside potential fueled by the recent developments within the Stapleton neighborhood,” said James Escarzega, a Cushman & Wakefield managing director who brokered the deal.
In addition to being in proximity to downtown Denver and Denver International Airport, the hotel is surrounded by various Fortune 500 companies. The Stapleton neighborhood, in which the hotel is located, has seen numerous corporate relocations and expansions, according to the company. This includes the 466,000 sq. ft. expansion of Enterprise Business Park, located less than three miles from the hotel. Moreover, the FasTracks’ East Corridor light rail line is expected to complete in 2016.
James Escarzega, Steve Michels and Stephanie Tsai of Cushman & Wakefield’s Global Hospitality group represented the seller in the transaction.