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Downtown Denver Office Building Sells for $95 Million

October 22, 2018

 

 

Downtown Denver Office Building Sells for $95 Million

Denver Financial Center at 1775 Sherman St. sold for $95.25 million, according to Denver County public records. It sold from U.S. Premier Office Equities LP, affiliated with USAA Real Estate Co. of San Antonio, Texas, to TR Denver Financial Center LLC, registered to the same address as Chicago-based Lincoln Property Company. LPC provides multiple real estate services, including leasing, property management, advisory and development services. Neither company responded to requests for comment in time for publication, but CBRE confirmed that it brokered the deal. The Denver Financial Center includes 436,000 square feet of space in a 31-story high-rise and a smaller, adjacent low-rise building. It last sold in 2008 for $84 million. According to its website, LPC has 17 properties in the metro area, including the Colorado Center, Union Tower in Lakewood, and 6200 S. Quebec St. USAA Real Estate Co. has had its hands in numerous metro projects, including a 322-unit development in the Golden Triangle and Block 162 in downtown Denver. (Denver Business Journal)

 

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Office Building Near Colorado Capitol Sells for $28.9 Million

Capitol Center at 225 E. 16th Ave. sold for $28.9 million. The property located just a block away from the state Capitol traded hands from Capitol Center II LLC, registered to the same address as California-based SteelWave to Capitol Center Property LLC, registered to the same address as California-based Harbor Associates. Neither company responded in time for publication. The building is 165,770 square feet and has amenities including a fitness center, locker rooms and showers, an outdoor patio and bike storage. Tenants include Colorado Health Care Association and Center for Assisted Living. The building last sold in 2011 for $22.2 million. Last year, Harbor Associates, in a joint-venture with Goldman Sachs, purchased 821 17th St. for $17 million. (Denver Business Journal)

 

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CURRENT

1 MONTH PRIOR

1 YEAR PRIOR

FED TARGET RATE

2.25

2.00

1.25

3 MONTH LIBOR

2.44

2.34

1.36

PRIME RATE

5.25

5.00

4.25

10 YEAR TREASURY

3.20

3.06

2.35

30 YEAR TREASURY

3.38

3.21

2.87