Cushman & Wakefield announced that it has represented an affiliate of LNR Property in the sale of the recently renovated Courtyard by Marriott Santa Fe hotel, located in Santa Fe, New Mexico. The buyer was a privately owned company based in Southern California.
Situated in one of the nation’s epicenters for art and culture that attracts visitors from around the world, the Courtyard Santa Fe features resort-style amenities and offers easy access to all of Santa Fe’s world-class attractions and a wealth of corporate and world-famous leisure demand generators, such as Los Alamos National Laboratory, the Georgia O’Keefe Museum, the Santa Fe Opera and the Santa Fe Plaza with its famous landmarks and buildings. Santa Fe University of Art & Design and the Institute for American Indian Arts is also minutes away.
“The Courtyard Santa Fe is a solid asset in a great location with a diverse base of demand drivers,” said James Escarzega, a Cushman & Wakefield Managing Director. “This property generated a significant amount of interest from a variety of investors. Our knowledge of the local market and ability to conduct a thorough process allowed the seller to maximize value.”
The Property features 209 well-appointed guestrooms, of which 33 are suites. In addition to guestrooms, the Property features approximately 7,000 square feet of flexible meeting space, inclusive of a 2,160 square foot atrium. Other amenities include the Bistro, serving breakfast and lunch, a 24-hour grab-n-go pantry; an indoor pool and whirlpool; fitness center; business center and 227 surface parking spaces.
The Courtyard Santa Fe has excellent visibility and access from Cerrillos Road, a major local thoroughfare with close proximity to Interstate 25.
A Cushman & Wakefield team consisting of James Escarzega, Steve Michels and Stephanie Tsai from the Global Hospitality group represented the seller in the transaction.