Colorado Real Estate Journal - November 19, 2014
Quality Inn hotels in Centennial and Louisville recently changed hands in deals handled by Marcus & Millichap. A buyer in a 1031 exchange paid $4.6 million for the 68-room hotel at 1196 W. Dillon Road in Louisville. The property sits along the Denver-Boulder turnpike and is ranked among the top Quality Inn hotels nationwide, according to Marcus & Millichap. The buyer and seller weren’t disclosed. The price represented 96 percent of the list price. “This is another example of the significant levels of activity driving the hotel investment sales market,” said Gregory A. LaBerge, director of Marcus & Millichap’s National Hospitality Group. Neville Rustomjee of Marcus & Millichap’s Denver office handled the transaction. Rustomjee also handled the sale of the 62 Quality Inn-Denver Tech Center at 9799 E. Geddes Ave. in Centennial. The $2.65 million sale represented 93 percent of the list price.