Assurance Hospitality and Affiliates bought three Marriott hotels in Longmont: the 78-key Courtyard Boulder Longmont, 90-key SpringHill Suites Boulder Longmont and 84-key Residence Inn Boulder Longmont, along with The Meeting Place, an 1,860-square-foot meeting and event space, from an institutional seller. Other terms and conditions were not disclosed. Hunter Hotel Advisors arranged and financed the sale.
Hunter’s Brian Embree, vice president, and Kami Burnette, senior vice president, facilitated the sale, while Adeel Amin, senior vice president of capital markets, secured financing for the buyer.
“The financing included two conventional loans totaling $10.2 million and a $6.2 million SBA-backed loan,” Amin said in a statement. “It was a challenging scenario with multiple lenders and a short timeline, but we polled the majority of local banks, negotiated favorable terms for the buyer and closed on time.”
Located 33 miles northwest of Denver, Longmont is a growing hub for aerospace, robotics, semiconductor and technology companies, while its craft brewing scene, outdoor recreation and proximity to Rocky Mountain National Park draw both business and leisure travelers.
“We’re excited to announce the acquisition of three Longmont properties, marking a strategic
expansion in the Colorado market and strengthening our portfolio,” said Mohammad Islam, president and CEO of Assurance Hospitality and Affiliates. “We thank the seller, Hunter Hotel Advisors, Marriott, our lending partners, vendors and dedicated staff for making this transaction a success. We look forward to integrating these hotels and delivering outstanding guest experiences as we grow.”
At each of the three hotels, there is an indoor pool, meeting space and fitness center.