AWH Partners, a leading real estate investment firm, recently purchased a 212-key hotel property in Broomfield, Colorado for $29 million. The dual-branded Residence Inn/Fairfield Inn & Suites will now be managed by Spire Hospitality, a subsidiary of AWH Partners.
The acquisition was made possible through AWH’s proprietary digital intelligence platform which identifies undervalued assets in the hospitality industry with potential for revenue growth. According to Chad Cooley of AWH Partners, the purchase price of $137,000 per key is significantly lower than replacement cost and offers attractive risk-adjusted returns with a 9.5% going-in cap rate.
Located between Denver and Boulder in one of Colorado’s fastest-growing communities, Broomfield has seen significant growth from industries such as aerospace, energy,and technology. This makes it an ideal market for investment opportunities like this hotel property under two strong Marriott brands.
With its strong historical cash flows and competitive long-term fixed rate financing options,the property is expected to generate exceptional returns according to analysis by AWH Partners.
