Hunter Hotel Advisors facilitated the sale and financing of three Marriott hotels in Longmont, CO: the 78-key Courtyard Boulder Longmont, the 90-key SpringHill Suites Boulder Longmont and the 84-key Residence Inn Boulder Longmont, along with The Meeting Place, an 1,860-sq.-ft. meeting and event space.
An institutional seller sold the portfolio to Assurance Hospitality and its affiliates. Hunter’s Brian Embree, VP, and Kami Burnette, SVP, facilitated the sale, while Adeel Amin, SVP, capital markets, secured financing for the buyer.
“The financing included two conventional loans totaling $10.2 million and a $6.2 million SBA-backed loan,” said Amin. “It was a challenging scenario with multiple lenders and a short timeline, but we polled the majority of local banks, negotiated favorable terms for the buyer and closed on time.”
Located 33 miles northwest of Denver, Longmont is a growing hub for aerospace, robotics, semiconductor and technology companies, while its craft brewing scene, outdoor recreation and proximity to Rocky Mountain National Park draw both business and leisure travelers.
“We’re excited to announce the acquisition of three Longmont properties, marking a strategic expansion in the Colorado market and strengthening our portfolio,” said Mohammad Islam, president/CEO, Assurance Hospitality. “We thank the seller, Hunter Hotel Advisors, Marriott, our lending partners, vendors and dedicated staff for making this transaction a success. We look forward to integrating these hotels and delivering outstanding guest experiences as we grow.”
The post Assurance Hospitality acquires three Marriott hotels in Longmont, CO appeared first on hotelbusiness.com.
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