DENVER – CBRE Hotels announced that it has arranged the sale of a 113-room Residence Inn and 112-room Courtyard located at 1127 and 1200 Oakridge Drive in Fort Collins, Colorado for an undisclosed price.
CBRE Hotels’ Mark Darrington and Larry Kaplan, senior vice presidents in Denver, represented the seller, California-based Southwest Value Partners, in this transaction. The hotels were purchased by Colorado based Rockies Lodging Capital.
Mr. Kaplan commented, “Marriott select-service branded assets are always highly sought after within the investent community. Additionally, Fort Collins is a dynamic market as the home of Colorado State University and a large concentration of technology companies. The offering garnered interest from a large number of regional and national investors.”
These strategically located Marriott assets are proximate to one another in the center of Fort Collins main commercial corridor. Located 60 miles north of Denver, Fort Collins is both the largest city in Northern Colorado and the home of Colorado State University (enrollment 25,000). Fort Collins enjoys one of the strongest economic growth rates in the country.
Photo Courtesy of CBRE Hotels