Boulder Outlook hotel sells for $9.3 million

BOULDER – Austin, Texas-based American Campus Communities Inc. (NYSE: ACC) closed last week on the $9.3 million purchase of the Boulder Outlook Hotel & Suites, helping to pave the way for redevelopment of the four-acre site.

In October, ACC redevelopment plans received unanimous site review approval from the city’s planning board for a two-building, 100-unit apartment complex geared toward University of Colorado students just east of the main campus.

Chuck Carroll, vice president of development with ACC, said Monday that his company is going through the technical document review process with the city now. He said groundbreaking is anticipated for late this…