COLORADO SPRINGS-Rockwood Real Estate Advisors,a full-service real estate investment banking firm, announced thesale of the 500-room Crowne Plaza Hotel located inColorado Springs,.

David Buddemeyer, receiver, sold the hotel to513 Hotels, LTD for an undisclosed amount. Theproperty is located at exit 138 of Interstate-25, just south ofdowntown.
The Crowne Plaza Hotel was constructed in 1974, expanded in 1985,and occupies 20.3 acres of land. The hotelhas 49,548 square feet of meeting space and alsooffers a fully equipped 24-hour fitness center and basketballcourts as well as indoor and outdoor pools. It is wellsituated to accommodate activities at the many military, governmentand related businesses, including Fort Carson, Peterson AirForce Base, Schriever Air Force Base, Cheyenne Mountain AirStation, and the US Air ForceAcademy. Colorado Springs is also a haven forleisure and sports-related travelers who visit the area for themany outdoor attractions as well as such premiere sports facilitiesas the US Olympic Complex and Colorado Springs WorldArena.

Rockwood Real Estate Advisors is a full-service real estateinvestment banking firm offering a broad range of financialadvisory, transactional services, and business solutions forclients in the commercial real estate industry. In 2012, thefirm closed 399 deals totaling over $3.2 billion in debt, equity,and sales transactions. Headquartered in New York, Rockwoodhas 15 offices across the country.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.