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Multi-scope Due Diligence, Sheraton - Denver, CO

Project Location 
Denver, CO
Sector
Hospitality
Completion Date 
Monday, November 5, 2018
Consulting Value 
$100,000
Project Leads 
Sheraton Hotel in downtown Denver, Colorado
Sheraton Denver Towers
Sheraton Ballroom, Denver, CO

About the Project

On behalf of a confidential investor, Partner was privileged to perform a range of equity-level assessments on this high-profile hotel property in the heart of Denver’s financial district. The 22-story, 1,231 room hotel building that was opened 1960, was constructed in multiple phases between 1958 and 1995, and was renovated in 2009 at a cost of over $69 million. The property consists of 31,915 SF of retail space, 46,762 SF of office space, 1,189 underground parking stalls, 29 elevators, and includes an above ground storage take system.

Partner accommodated the hotel guests and the client by working odd hours and quickly coordinating comprehensive efforts with specialty scopes to effectively evaluate all engineering components including a Detailed Accessibility Survey and a Pre-Renovation ACM Survey.

Partner’s scope of work consisted of:

• Phase I Environmental Site Assessment performed in accordance with ASTM Standard E 1527-13 and USEPA 40 CRF Part 312, including regulatory and records review, review of prior ownership and land uses, site reconnaissance and interviews with past and present owners and occupants. 
• ALTA/NSPS Land Title Survey of the property. 
• Acquisition Level Asbestos Containing Materials Survey
• Equity-level Property Condition Report (PCR) with multiple subspecialty inspections: Roof Assessment; Mechanical, Engineering and Plumbing; Building Envelope; Fire Life Safety; Elevator/Vertical Transportation, Acoustical Consulting and Testing; and a Tier III Detailed Accessibility Survey. 

Partner continues to work with the client, owner, and director of engineering for all their maintenance and compliance needs.

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