Texas firm buys Boulder Marriott for $61.4M

BOULDER — Austin, Texas real estate investment trust Summit Hotel Properties Inc. (NYSE: INN) closed this week on the $61.4 million purchase of the Boulder Marriott, 2660 Canyon Blvd., from a real estate arm of private equity giant Blackstone.

Officials for Summit did not respond to an interview request, but said in a news release that Stonebridge Realty Advisors Inc. will manage the 157-room hotel and the roughly 20,000 square feet of adjoining retail and restaurant space.

“We are excited about the opportunity to add another high-quality hotel to our portfolio,” Summit CEO Daniel Hansen said in the release.

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Built in 1997, the hotel has been a staple at the intersection of Canyon and 26th Street. But it will soon have plenty of hotel company at the corner.

Denver development firm NAI Shames Makovsky is building a 203-room Embassy Suites and 182-room Hilton Garden Inn at the northeast corner of 26th and Canyon. Centennial-based Stonebridge, meanwhile, is building a 155-room Residence Inn at the southwest corner of the intersection.