Interest in second-tallest building in Denver snagged for $285.6 million

364
364
Share this Article
Facebook Twitter LinkedIn Google Pinterest StumbleUpon Email

Denver County

Property Location: 1801 California St., Denver

Property Description: 1.37 million-sf, 54-story office building with 12-level parking garage, 28 passenger elevators, two freight elevator cars and fitness center on second floor, built in 1983

Land Size: 61,191 sf

Sales Price: $285.6M, or $208.14 per sf

Reception No.: 2018038167

Closing Date:3/30

Grantor: BOP 1801 California Street LLC, Brookfield Property Group, 250 Vesey St., 15thFloor, NYC, NY, attn. Steven Ganeless, chief investment officer

Grantee: BIT Investment Ninety LLC c/o PCN Bank, NA trustee, One East Pratt Street East, Fifth Floor, Baltimore, MD 21202, attn.: Clayton Flanagan, SVP

Financing: Loan from Royal Bank of Canada dated 10/31/16, 2016151430

Comments: The sale included only 51% of the building. Based on full fee simple interest of the property, the price per square foot would equate to $408.11 psf, reflecting a value of $560 million.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or [email protected]

In this article