A credit union and hotel that flank a homeless shelter at the edge of Denver’s Central Park neighborhood have sold to the same buyer.
Aurora-based 2nd Home Community, a provider of adult day services and home care, purchased the former Partner Colorado Credit Union building at 4000 Quebec St. in January for $800,000, according to public records.
And on Friday, the company bought the former Courtyard by Marriott at 7415 E. 41st Ave., paying $7.5 million, according to Joe Awad, a broker with BluRiver Commercial Advisors who represented the company in the deals.
2nd Home Community didn’t respond to a request for comment. But Awad said the company plans to convert the hotel into an assisted living facility that accepts Medicaid. The hotel was sold furnished, and the company plans to spend $1 million on updates, he said.
“What makes this particularly noteworthy is that Medicaid-funded assisted living has historically been out of reach for many Colorado seniors,” Awad said in an email. “2nd Home Community is specifically designed to change that, making high-quality residential care accessible regardless of financial means.”
Awad said the credit union will become a 2nd Home Medical Center. The concept currently has one location at 6880 E. Evans Ave. in Denver.
The properties are notable largely because of their neighbor. Between them, at 4040 Quebec St., is a former DoubleTree by Hilton hotel, which has been used as a homeless shelter since late 2023. Denver purchased the property in August 2024 for $43 million.
“It’s really affected all the properties in the vicinity,” Awad said.
Partner Colorado Credit Union closed its branch in May 2024, citing “incidents that made us extremely concerned for the safety of our employees.” The Arvada-based institution listed the property for sale later that year, asking $1.6 million.
That was well below Denver’s $3.5 million appraisal of the property. But 2nd Home Community ended up paying just half of the asking price.
The Courtyard hotel, meanwhile, was sold by Clarion Partners, a global real estate investment firm that had owned it for decades. BusinessDen reported in January that the hotel would close and be sold.
“They wanted out,” Awad said. “They had bad reviews because of the homeless shelter across the street, and they couldn’t get anywhere near the occupancy they needed.”
Awad said the hotel recently underwent $5 million in renovations. It sold for $56 a square foot, compared with $110 or $115 a square foot for comparable properties locally, he said.
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