A joint venture that includes Newport Beach-based Eagle Four Partners is moving ahead on $80 million in work at the Sheraton Denver Downtown.
The group bought the hotel a year ago with High Street Real Estate Partners in Atlanta on undisclosed terms; it had been appraised at $415 million, according to Irvine-based hotel broker and consultancy Atlas Hospitality Group.
The Sheraton is currently the largest Denver hotel with more than 1,200 rooms; a 1,500-room Gaylord companies resort opens later this year.
Eagle Four’s portfolio includes local properties Paséa Hotel & Spa in Huntington Beach, and Balboa Bay Resort, Balboa Bay Club and the Newport Beach Country Club, all in Newport Beach.
For more on Eagle Four, see the Sept. 23 print edition of the Business Journal.