Cushman & Wakefield recently represented Holualoa Companies as the exclusive advisor in arranging the sale of the Holiday Inn Denver East Stapleton, in the Stapleton submarket of Denver. The hotel, which features 299 rooms and 20,000 square feet of meeting space, including the 3,240 SF Main Ballroom, was acquired by Urban Commons, LLC, a privately-held real estate investment and development firm. The property will be managed by Brighton Management.
Cushman & Wakefield also served as exclusive advisor to Urban Commons LLC, in arranging a $19.7 million financing for the Holiday Inn Denver East Stapleton and a $39.9 million financing for the Renaissance Denver, both located in Stapleton, CO. The floating-rate loan was structured with significant future draw capacity and prepayment flexibility.
A Cushman & Wakefield Global Hospitality team of Daniel MacDonnell, Steve Michels, and Eric Melendez-Lluch served as advisor to Holualoa Companies in the sale. Daniel MacDonnell and Eric Melendez-Lluch also served as advisors to Urban Commons, LLC, in the financing of the acquisition.
“The strong and improving market fundamentals, combined with the anticipated renovations to be made to the hotel will allow the buyer to substantially improve cash flow,” said MacDonnell, a Cushman & Wakefield Senior Managing Director. “This joint sale and stapled financing is another example of our success in providing cost effective and flexible financing to the buyers of the hotels we market.”
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.