A building in LoHi leased to hotel operator Sonder has changed hands, the third sale of one of the company’s local properties since late 2019.
Conifer-based Blueline Equity Partners purchased the three-story, 21-unit building at 3022 Zuni St. on Tuesday for $7.29 million, the seller confirmed.
The building is 8,801 square feet, according to city property records.
Blueline, founded in 2007 by Steve Daniel and Morgan Reynolds, owns multifamily properties in Colorado and Nebraska totaling about 875 units, according to the company’s website.
The property was sold by Mike Mathieson, principal with Forbes Partnership, who purchased the 0.12-acre lot in August 2014 for $475,000 and built the structure for Sonder. The company started operating there in early 2020.
Broker Robert Bratley, formerly of CBRE, represented the seller.
Sonder is one of several startups that operate at the intersection of hotels, apartments and Airbnbs. The company leases all or part of what are essentially apartment buildings, then leases the rooms out for as little as one night. There’s no front desk or anything, making the setup for guests more like an Airbnb than a hotel.
Sonder gets lodging licenses from the city for its properties, the same type of license that a typical hotel gets.
Sonder’s Denver units are spread across four properties: 3022 Zuni St. and 3206 Osage St. in LoHi, 630 E. 16th Ave. in Uptown and 2450 S. University Blvd. in University Park.
All of the buildings have sold since Sonder’s lease, with the exception of the Atelier at University Park apartment complex at 2450 S. University Blvd. The Uptown building sold in December 2019, and the Osage Street property in February 2020.
Mathieson is planning to build another hotel for Sonder in LoHi, a five-story, 121-unit project at 2534 18th St.