Atlanta-based Peachtree Group has acquired the 180-room Hilton Garden Inn Denver Tech Center. Peachtree's hospitality management team will operate the facility. Financial terms of the deal were not disclosed.
“We are excited to acquire this luxury hotel brand in a growing submarket with diverse and consistent demand,” said Michael Bernas, Peachtree's senior vice president of acquisitions. “Denver’s economy is highly diversified, and the city is increasingly recognized as a fast-growing technology hub. With the completion of the Bellevue Station development, we believe Denver Tech Center will continue to be an attractive destination for consumers and businesses.”
This 7-story hotel was last renovated in 2014. Peachtree has made a significant investment in this property, comprehensively upgrading and enhancing the entire property, including the exterior, lobby area, bar and lounge, meeting rooms, guest rooms, and guest bathrooms. , hallways, elevators, stairs.
“The renovated hotel will be the most recently renovated property in the area and will feature significantly higher daily rates,” Bernas said.
The hotel is ideally located in the heart of the Denver Tech Center, one of the Denver MSA's prominent employment hubs and one of the largest office submarkets outside the Central Business District, with an 8.8 million sq. ft. of Class A space. The area is located near the intersection of Interstate 25 and Interstate 225, providing direct access to the Denver CBD and Denver International Airport.
The hotel also benefits from its proximity to Bellevue Station, a more than 50-acre transit-oriented mixed-use development. When completed, Bellevue Station will consist of his 2.2 million square feet of Class A office space and his 300,000 square feet of retail stores. 1,800 luxury residential units and over 5.0 acres of green space. Prominent employers in the area include Comcast, Oracle, Microsoft, Zoom, Charles Schwab, Fidelity Investments, Newmont Mining, and Western Union. Bellview RTD light rail station provides direct commute to Union Station and Denver International Airport.
The Hilton Garden Inn Denver Tech Center will be Peachtree's second hotel in Denver, following its ownership of Element Denver Park Meadows in Lone Tree.
Peachtree Group is an investment company that drives growth with a diverse portfolio of commercial real estate assets and other businesses. Since its inception, the company has made hundreds of investments focused on acquiring, developing and financing real estate with a market capitalization of approximately $9.7 billion. Peachtree currently manages over $3.4 billion of his capital, powered by services designed to protect, support and grow his investments.
