AB Real Estate, Sage Buy TownePlace Suites Denver Portfolio

by Nellie Day

DENVER — A joint venture between AB Real Estate Group and Sage Hospitality has acquired the TownePlace Suites Denver Portfolio for an undisclosed sum. The portfolio contains five properties throughout the Denver metro region, for a total of 584 rooms.

Properties included in this acquisition are the TownePlace Suites Denver Downtown, the TownePlace Suites Denver West Federal Center, the TownePlace Suites Denver Southeast, the TownePlace Suites Denver Tech Center and the TownePlace Suites Boulder Broomfield. The hotels’ guestrooms and public spaces underwent significant renovations in 2013.

The TownePlace Suites-branded properties are members of the Marriott franchise system. They will continue to be managed by Sage Hospitality.

The sale was executed by JLL’s Mark Fair, Mark Fraioli and Chris Dewey.

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