Hampton Inn & Suites Lafayette Medical Center, located at 317 Exempla Circle, in Lafayette, sold on July 25 for $12.5 million, which equates to $148,810 per unit. The upscale Hilton franchise hotel was constructed in 2018 and has 84 units.
Demand generators include the adjacent 183-bed SCL Health Good Samaritan Medical Center and the new 42-acre Medtronic campus near the intersection of the Northwest Parkway and US 287. SBA financing was provided by the Bank of Colorado.
Alex Kovacs, CCIM, commercial broker & advisor with Madison Commercial Properties acted as a transaction broker in the sale.
“The buyer is a local hotelier, who was anxious to deploy cash assets in the Denver metropolitan market. The buyer was attracted to the property due to its excellent quality and condition, along with the income potential. Also, there is limited competition in the submarket as this is the only franchise hotel within the city limits of Lafayette,” stated Alex Kovacs, CCIM, commercial broker & advisor with Madison Commercial Properties.