HREC Arranges Sale of Marriott Colorado Springs
Colorado Springs, CO – HREC Investment Advisors arranged the sale of the 309-guestroom Marriott Colorado Springs located in Colorado Springs, Colorado. The hotel was purchased by a partnership of West Point Partners LLC, Lions Gate Capital LLC and the Harp Group, Inc.
Jeffrey Duni and Mike Dube, both Vice Presidents in HREC Investment Advisors’ Denver office, exclusively represented The Procaccianti Group in the transaction.
“Colorado Springs is one of the best performing hotel markets in the state and the Hotel offers an excellent location in the fast-growing northern part of the city. The Buyer group understood the economic fundamentals of the market and how to best leverage that with their planned multi-million dollar renovation of the asset,” said Jeffrey Duni.
The hotel was built in 1989 and contains approximately 23,000 square feet of event and meeting space and is one of the premier full-service hotels in Colorado Springs, located near the U.S. Air Force Academy, the United States Olympic Training Center, and numerous aerospace, defense, and healthcare firms.
Image courtesy of HREC