Urban Commons Purchases 400-room Renaissance Denver Hotel
Los Angeles, California – Urban Commons, LLC announces today the purchase of the 12-story, 400-room Renaissance Denver Hotel located in Denver, Colorado. The 400 guestroom full service upscale hotel hosts approximately 30,000 square feet of premium International Association of Conference Centers (“IACC”) certified meeting space and is located in the Stapleton area of Denver, one of the fastest growing lodging markets in the nation. Stapleton is poised to profit from the current construction on the Fastracks Light Rail Expansion, a $7.8 Billion metro-wide mass transportation project that will provide access throughout the Denver region. The East Corridor light rail line, where the Hotel sits, is slated for completion in 2016 and is expected to significantly increase corporate demand throughout the Stapleton and Downtown Denver area. In addition, the Hotel is centrally located to some of Denver’s major demand generators, including the National Western Stock Show, Dick’s Sporting Goods Park, Coors Field, Sports Authority Field at Mile High, United Airlines Flight Training Center, Colorado Convention Center, and the Denver International Airport. The Hotel features spacious guestrooms, including 11 suites, heated indoor pool and whirlpool, a seasonal outdoor pool, a fitness center, a business center, a sundry/gift shop, a club lounge, two on-site dining venues, 24 hour in-room dining, and a complimentary airport shuttle, as well as other amenities. The Executive Meeting Center (“EMC”) facilities are certified by the International Association of Conference Centers and boast 22 flexible conference and banquet rooms that can accommodate any event. Over the last several years Urban Commons has completed a large number of commercial property acquisitions. Urban Commons targets value-add opportunities where they see the greatest growth potential and upside opportunity for returns. With their success, Urban Commons continues to aggressively grow its portfolio in the hospitality sector. Urban Commons Urban Commons, a Los Angeles-based real estate investment firm, specializes in hospitality and residential income generating assets. Urban Commons targets value-add property acquisitions in highly populated, predictable markets. With decades of cumulative real estate investment, development, and management experience, the company has proven the ability to thrive in the US real estate market throughout all market cycles. Urban Commons owns, manages and invests in a variety of assets including land, apartment buildings, condominium projects, hotels, retail and commercial properties. Hospitality partners include names such as, Starwood Hotels and Resorts Worldwide®, Hilton Worldwide®, InterContinental Hotels Group® and Wyndham Worldwide®. For further information about Urban Commons, please visit www.urban-commons.com.
October 14, 2015
FOR IMMEDIATE RELEASE
Contacts:
Murphy O’Brien
Erica Feher I Priyanka Banerjee
(310) 586-7180