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Private equity firm, JV partner buy Colorado's largest hotel

A joint venture between private equity firm Eagle Four Partners and Atlanta-based High Street Real Estate Partners acquired the Sheraton Denver Downtown Hotel, Colorado's largest hotel, for an undisclosed price, according to a release.

The Denver Business Journal reported, citing public records, that Chartres Lodging Group LLC had sold the property on which the asset sits in 2015 for $210 million to AVR Realty Co. LLC and David Werner Real Estate Investments, but retained ownership of the hotel and agreed to lease back the land.

The new ownership group, named Denver HS-EF Court Place, has plans for a major renovation of the 1,231-room hotel that will cover both guest rooms and public areas. The property also includes 133,000 square feet of meeting room space and amenities including a rooftop pool, a fitness center and several restaurants.

HFF brokered the acquisition, while Hodges Ward Elliott provided buyer financing advisory services.