Cover Pic-modified (1)

    3333 Quebec Street | Denver Workforce Conversion Opportunity

     KEY INVESTMENT HIGHLIGHTS
     
    Total Project Capitalization:

    $22.8 Million

    Projected: 28-33% IRR | 4.4-4.8x MOIC

     

    Equity Sought: $3 Million
    Stabilized Yield on Cost:
     9%
     

    Gould Capital is representing an experienced sponsor seeking approximately $3M in equity for the adaptive reuse conversion of a 309-key hotel into a 240-unit workforce multifamily asset in an infill Denver submarket. The project involves phased conversion of the existing 11-story structure, with partial hotel operations maintained during construction to offset carrying costs. Total project capitalization is approximately $22.8 million. The business plan targets stabilization and a refinance in Month 29, with projected stabilized valuation of approximately $32 million and long-term exit value of approximately $42 million. The asset is located within a designated Opportunity Zone in a supply-constrained submarket supported by durable rental demand and limited competing new development.

    Investment Summary

    Overview:  The project consists of the conversion of an existing 309-key hotel into 240 multifamily units (160 studios and 80 one-bedrooms). The property is located in an infill Denver submarket with strong workforce housing demand and limited new supply due to elevated construction costs. The total capitalization is approximately $22.8 million, representing a basis materially below replacement cost. Stabilization is projected at 94% occupancy with a targeted refinance in Month 29
     
    Operating Partner:  The operating partner (HotelShift) has experience in hospitality repositioning and adaptive reuse strategies across multiple markets, with demonstrated execution capability in conversion and value-add environments.
     
    Business Plan:  The sponsor will implement a phased renovation strategy, maintaining partial hotel operations during initial demolition and reconfiguration. Renovations include combining units, adding kitchens, upgrading interiors, and completing life-safety improvements to transition the asset into stabilized multifamily use. Lease-up is projected at approximately 15 units per month. The refinance event is structured to facilitate meaningful equity recapture (and takeout of any preferred equity) while preserving long-term upside over a 10-year Opportunity Zone hold.
     
    Deal Highlights:
     
    • $22.8M total project capitalization
    • 240-unit adaptive reuse (160 studios / 80 one-bedrooms) 
    • Projected stabilized value of ~$32M  | ~9% stabilized YoC
    • Projected 28-33% project-level IRR | 4.4-4.8x MOIC
    • Targeted Month 29 refinance with significant capital recapture
    • Located in supply-constrained Denver submarket
    • Opportunity Zone eligible 10-year hold

     

    The materials presented herein are for informational and evaluation purposes only and are intended solely for use by sophisticated institutions and accredited investors. Gould Capital (“GC”) is acting solely in a strategic advisory and consulting capacity and is not a registered broker-dealer, investment adviser, or placement agent. GC does not provide investment recommendations or offer securities for sale, and nothing contained herein shall constitute an offer to sell or a solicitation of an offer to buy any security. All information provided is based on data received from third parties, including project sponsors and operating partners. While GC endeavors to present information believed to be accurate and reliable, GC makes no representation or warranty, express or implied, as to the completeness, accuracy, or timeliness of the information, and assumes no liability for any loss or damage resulting from its use. Any prospective investor must conduct their own independent evaluation, due diligence, and risk assessment before making any investment decision. Participation in any investment opportunity introduced by GC is done at the sole discretion and risk of the recipient, and GC shall not be held responsible for any investment outcomes, financial performance, or business decisions made as a result of these materials. GC’s role is limited to making strategic introductions and supporting deal evaluation and communication processes. Any potential investment must be undertaken pursuant to definitive offering documents provided directly by the sponsor or issuer, who alone bears responsibility for any securities offering. By reviewing these materials, you acknowledge and agree to the foregoing limitations.

    Terms and Conditions 

     Privacy Policy