The Nativ Hotel in LoDo — both the brand and the building — is under new ownership.
Denver-based The Loft Brokers, acting as KDA Properties LLC, purchased 1612 Wazee St. last week from Hotel Denver LLC (formerly Jet Entertainment II LLC) for $6.05 million, according to county records.
Loft Brokers founder Amin Suliaman said the deal included the hotel brand and assets, in addition to the 16,000-square-foot building, which has four floors. He said his partner in the deal is Kenneth Ware.
The deal was financed with a $5.5 million loan from the seller, according to county records.
Hotel Denver/Jet Entertainment had owned the building since January 2008, when it paid $5.36 million, according to property records.
The Nativ Hotel opened in spring 2015. The building was another hotel before that. The property’s website shows rooms starting at about $240 a night.
Suliaman said his staff began managing the hotel in early February, around the same time a short-lived lawsuit revealed Jet Entertainment was taking control of the hotel from the previous operator, 1612 Wazee LLC. A lawyer for Jet said at the time that the company was looking for a new entity to lease or purchase the building.
The Loft Brokers specializes in renovating old buildings into offices or residences. Previous projects have included the office building at 1045 Lincoln St. and the former Melbourne Hostel at 607 22nd St.
Suliaman said the company has been a partner in some hotel properties, but “this is going to be our first brand that we are completely running on our own.”
“This is definitely our first dive off the diving board,” he said. “But we know how to swim.”
Changes are in store. Biergarten, the on-site restaurant and bar, is being replaced with Suliaman called a “speakeasy-type lounge.” Roostercat Coffee has opened in the lobby. And nightclub Stereo Lounge is being made “more luxurious, more VIP, more upscale.”
Suliaman estimates he’ll spend at least $1.2 million to renovate and rebrand the property.
“The Nativ Hotel had been a nightclub with rooms,” Suliaman said. “We need to be a boutique hotel with amazing food and beverage options.”