Denver Tech Center office tower sells after fourteen years
Colorado-based real estate firms Real Capital Solutions and Dunton Commercial bought Terrace Tower in the Denver Tech Center on October 9.
FTMQ Real Estate, written by our newsroom0 views
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Two Colorado-based commercial real estate companies acquired Terrace Tower in the Denver Tech Center on October 9, Bisnow reported. Louisville-based Real Capital Solutions and Greenwood Village-based Dunton Commercial purchased the property south of Denver for an undisclosed price. The transaction marks the first time the asset has changed hands in 14 years. [1]
According to Bisnow, the office building currently has an occupancy rate of 72 percent. The acquiring companies stated that they purchased the commercial real estate asset at a fraction of replacement cost. [1]
Adam Abeln, the chief acquisitions officer at Real Capital Solutions, said in a statement that office repricing continues to create compelling opportunities for selective investors. He added that the firm is focusing on high-quality assets with durable cash flow. [1]
In short
- Terrace Tower in the Denver Tech Center sold on October 9 for an undisclosed amount.
- Real Capital Solutions and Dunton Commercial purchased the asset after 14 years of single ownership.
- The office tower is 72 percent occupied and was acquired at a fraction of replacement cost.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Denver Tech Center Office Tower Trades Hands For First Time In 14 YearsBisnow, 2h ago (the report this story comes from)
Background
- [2]SOM (architectural firm) on Wikipedia
- [3]2022 NFL draft on Wikipedia
- [4]Year on Wikipedia
Our newsroom writes these reports with the help of software, from the 4 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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