02/12/2013 (press release: boxerproperty) // Houston, TX // David Kayle
Boxer Property announced today it has acquired Elevation Hotel and Spa in Mt. Crested Butte, Colorado. This investment highlights Boxer’s dedication to increasing its hospitality portfolio by acquiring irreplaceable, resort-style lodging.
Located at the base of Colorado’s Mt. Crested Butte Ski Resort, Elevation Hotel and Spa has more than 260 rooms and is touted as having “slopeside luxury accommodations in a relaxed, refined setting.” Elevation offers an indoor heated pool and hot tub; ski-in/ski-out convenience and a large spa & fitness center.
Boxer Property is generally known for being a multi-tenant office buyer throughout the U.S. In December 2012 Boxer acquired its first hotel, Pointe Hilton Tapatio Cliffs Resort in Phoenix. Boxer continues to actively pursue additional hotel acquisitions.
“This is the second addition to the hospitality portfolio we are assembling,” said David Kayle, Acquisitions Manager for Boxer Property. Boxer is interested in irreplaceable, premier hotels and resorts where well-capitalized ownership can bring them back to a five star status. Mt. Crested Butte is an iconic ski town and we feel that this property will benefit from stable ownership,” Kayle continued.
The seller was represented by John Bourret, Managing Director of HFF in Dallas.
About Boxer Property
Boxer Property is celebrating 20 years as an innovative commercial real estate investment and management company that specializes in maximizing the value of under-performing properties through aggressive leasing and hands on management. Founded in 1992, Boxer Property Management Corporation is a private firm based in Houston with over 15 million square feet of commercial real estate nationwide. For more information, visit www.BoxerProperty.com.