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IN-DEPTH: Crow Holdings buys historic Denver hotel

by Andrea Waitrovich

Crow Holdings Fund VI, managed by Crow Holdings Capital Partners, has purchased Brown Palace Hotel in Denver. Here's an in-depth look at the deal.

 

THE DEAL

A group of investors, listed in assessor records as Brown Palace Joint Venture, sold Brown Palace Hotel. Terms of the deal were not disclosed. The sellers placed the historic hotel up for sale in September 2013. The sale includes both the 121-year-old Brown Palace Hotel and the adjacent Comfort Inn Downtown Denver for a total of 472 rooms. Eastdil Secured represented the seller.

Quorum Hotels & Resorts, an affiliate of Quorum Hotel Advisors and part of the investment group Brown Palace Joint Ventures, the property manager since 1987, will continue to manage the hotel. 

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