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DENVER – The 110-room Hotel Teatro in Denver has received $22.5 million in refinancing. The hotel is located at 1100 14th Street near the Colorado Convention Center in the city’s Central Business District.
The historic building was constructed in 1911. It formerly served as the executive offices of the Denver Tramway Company until it underwent a $20.6-million conversion to a hotel in 1999. The property was acquired by DiNapoli Capital Partners in 2006. The company will use the funds to refinance the property’s existing first mortgage and to upgrade the hotel. Financing was arranged by Brad Zampa and Nathan Elliott of CBRE Capital Markets. The loan was originated by Ronnie Gul of Mesa West Capital.