FORT COLLINS — A company controlled by McWhinney Real Estate Services Inc. has purchased the Fort Collins Marriott at 350 E. Horsetooth Road for $29 million.
The transaction occurred Nov. 3 and was recorded with the Larimer County Clerk and Recorder on Thursday. McWhinney used a company called MH MFC LLC for the transaction. Seller was SWVP MFC LLC, which is controlled by San Diego, California, real estate investment firm Southwest Value Partners.
The property last sold in 2011 for $20.5 million. The 231-room hotel, long a venue for large community events, sits on five acres and is adjacent to the Foothills shopping district, which McWhinney bought in 2021. McWhinney and its partner in the deal, Prism Places Inc., has been quietly engaged in developing a redevelopment plan for Foothills. The addition of the hotel gives the company additional options.
McWhinney said in a press release that Greenwood Hospitality Group will manage the property.
The Marriott opened in 1985. It completed phase one of a renovation this year. McWhinney said in its press statement that it plans to invest in additional upgrades to enhance the lobby, restaurant, bar, and public spaces. The hotel has more than 18,000 square feet of meeting and event space, an indoor-outdoor pool and fitness center.
“McWhinney is excited to expand its real estate portfolio within the Fort Collins community,” said Dave Johnstone, executive vice president and chief investment officer for hospitality at McWhinney. “This is a unique opportunity to expand our mixed-use capabilities where hospitality, retail, and multifamily can co-exist and thrive within midtown Fort Collins for years to come.”
In 2018, McWhinney completed Cycle Apartments, a 483,000-square foot multifamily complex that includes 405 apartment homes within walking distance to the Marriott.
McWhinney also owns The Elizabeth Hotel in downtown Fort Collins, a facility it built from the ground up. It has hotel properties in Denver, Boston and Garden Grove, California.