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 Colprop2012@gmail.com.
