The borrowers intend to pay off a construction loan and reimburse other development costs. It carries a 15-year term and amortizes over 25 years. The full-service hotel opened in May '97 and sits on 3.4 acres in central Boulder, approximately one mile southeast of the town's Pearl Street Pedestrian Mall and 25 miles northwest of downtown Denver. Highway 36 runs between the property and the 880,000 s.f. Crossroads Regional Mall.
Office parks are nearby.
The Boulder Marriott is positioned as the premier business hotel in its submarket. It draws strength from the Marriott flag and reservations system and management support by the nation's third largest Marriott franchisee. Concierge lounges on the fourth and fifth floors offer VIP guests continental breakfasts and afternoon appetizers and cocktails.