LITTLETON, COLO. — Avatar Financial Group has provided a $5.1 million bridge loan secured by Hampton Inn & Suites Denver-Littleton. The two-year loan, structured at a 53 percent loan-to-value ratio, retired a maturing bank loan and gave the sponsor time to finalize a new Hilton Property Improvement Plan (PIP) for the asset.
Built in 2006 and partially renovated in 2019, the four-story, 58,458-square-foot select-service hotel features 89 suites, 2,500 square feet of meeting space, an indoor pool and spa, a fitness center, an outdoor patio and other guest amenities. The property is situated on 2.8 acres at 7611 Shaffer Parkway.
Once the PIP is finalized, the sponsor plans to secure financing for the required improvements and contribute fresh equity to the property, which would retire Avatar’s loan in full.