AWH Partners has acquired a 212-key, dual-branded Fairfield Inn & Suites Boulder Broomfield/Interlocken hotel property in Broomfield. This latest acquisition is part of the New York-based real estate investment firm’s strategy to identify under-valued assets in the hospitality sector through its proprietary digital intelligence platform.
The acquisition enhances AWH Partners’ presence in the Denver-Boulder market. The hotel will be managed by Spire Hospitality, a subsidiary of AWH Partners based in Dallas.
Broomfield, located between Denver and Boulder, has seen significant growth due to expansion in the aerospace, energy, life sciences, and technology industries. Chad Cooley, managing partner, said, “This acquisition is AWH Partner’s most recent investment resulting from our proprietary, best-in-class technology and data platform that will be central to the strategic expansion of our portfolio.” He added that the platform utilizes data to identify investment opportunities with an optimal risk-reward balance.
The acquisition was made at a price of $137,000 per key, which is considered a discount to the replacement cost for high-quality assets within Marriott’s brands. The investment is expected to yield strong returns, with a 9.5% going-in cap rate. The property boasts strong historical cash flows and competitive long-term fixed-rate financing, which contributes to favorable returns, according to the firm.
The hotel features extended-stay suites with kitchens, guest rooms, a hotel bar, buffet and to-go dining, as well as conference and corporate event facilities. It is conveniently located near Broomfield’s Flatiron Crossing complex and the Interlocken Golf Club, with the University of Colorado Boulder just 15 minutes away by car.
AWH Partners, founded in 2010, has invested over $2 billion in hospitality real estate, collaborating with institutional investors to develop and manage high-performing assets. The firm includes Spire Hospitality for hotel management and AWH Development for full-service real estate development.
