April 18, 2023
Announcing the Sale of Sylo Ramada Inn Located at 16921 E. 32nd Ave in Aurora, Colorado
Denver, CO – May 3, 2023– Alex Kovacs, CCIM , Commercial Broker & Advisor at Madison Commercial Properties, is pleased to announce the sale of the 95 room Sylo Ramada Inn hotel, located at 16921 E. 32nd Avenue, Aurora, in the southeast quadrant of I 70 and Airport Boulevard, at the eastbound highway ramp. Madison Commercial Properties was the transaction broker for the sale. The seller was W4K, Inc., and the purchaser was BHLD, LLC, who owns several hotels in the region.
The sale included a 95-room franchise hotel originally constructed in 1996 as a Comfort Inn. The hotel then became a Lexington Inn, before it was converted to a Red Lion by the current owner in 2018. The hotel was proposed to be re flagged as a Best Western Plus right before COVID 19 blindsided the hotel industry in 2020. The property was partially converted, including some new FF&E, and other improvements. The conversion was abandoned, and the hotel was instead converted to a Ramada Inn in mid-2022.
The three-story hotel has many amenities, including an indoor pool and hot tub, exercise room, meeting room, employee apartment, and guest laundry. The hotel serves free breakfast.
The buyer was excited to add this property to their portfolio with a vision to increase value from being located at Denver International airport, which continues to be the third busiest commercial airport in the nation. The owner will finish the PIP items required by Wyndham to make all of the rooms consistent, and to make common area repairs.