Newcrestimage has sold the Residence Inn by Marriott Denver North Westminster (Colo.) to Archer Capital Group. Commercial real estate brokerage firm Marcus & Millichap facilitated the sale.
Marcus & Millichap’s Chris Gomes, executive managing director investments, exclusively marketed the property on behalf of the seller and procured the buyer with support from Allan Miller and Christy McDougall of the Miller-Gomes Hotel Team of Marcus & Millichap. Adam Lewis is Marcus & Millichap’s broker of record in Colorado.
“Led by Rahil Sanghvi, this is Archer Capital Group’s fifth acquisition of the year and sixth transaction over the past two years. This asset is a perfect addition to the buyer’s growing portfolio,” Gomes said in a statement. “NewcrestImage, on the other hand, has been very active this year. This transaction marks their 13th disposition of the year, and they have also acquired three other assets during the same period.”
Located at 5010 W. 88th Place in Westminster, the four-story Residence Inn by Marriott has 94 extended-stay suites with kitchens and separate living areas. The property is accessible from U.S. Route 36, also known as the Denver-Boulder Turnpike, and is near major demand drivers, including the Westminster Promenade, Butterfly Pavilion and corporate headquarters for companies like Ball Corporation and Maxar Technologies.