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The Davies Group at George Smith Partners Secure $42.5 Million in Financing for Hotel-to-Multifamily Conversion in Colorado Springs

Published: March 29, 2022

LOS ANGELES, CA - Malcolm Davies and Zack Streit of The Davies Group at Los Angeles-based George Smith Partners, a premier commercial real estate capital advisory firm, arranged $42.5 million in construction financing for the conversion of a 496-key hotel to a market-rate multifamily complex in Southeast Colorado Springs. The financing was arranged on behalf of Shir Capital and the ValCap Group and provided by Parkview Financial. “We were particularly attracted to the Colorado Springs...

Source: multifamilybiz.com

Eleganté sale leads to layoffs, loss of event space

Published: January 28, 2022

Since Hotel Eleganté Conference & Event Center was sold last month, hotel staff and events contracted to be held at the hotel have been thrown into chaos.

Source: csbj.com

State: Colorado Springs hotel laid off 160 employees after sale

Published: January 6, 2022

The sale of Colorado Springs' second-largest hotel meant a not-so-happy start to the new year for dozens of hotel employees.

Source: gazette.com

Colorado Springs hotel laid off 160 employees after sale: State

Published: January 6, 2022

The sale of Colorado Springs' second-largest hotel meant a not-so-happy start to the new year for dozens of hotel employees.

Source: gazette.com

Hotel Eleganté sold, will become low-cost apartments

Published: January 4, 2022

SHIR Capital, a Texas-based developer, purchased Hotel Eleganté in Southeast Colorado Springs for $25 million last week and will begin converting the building into 496 low-cost multifamily apartments.