AmeriVest Takes 9.6% Stake in Sheridan Investments

DENVER-AmeriVest Properties takes slightly more than a 9.6% interest in Sheridan Investments, owner of the 118,000-sf Sheridan Plaza at Inverness office building. AmeriVest bought the shares from some of its own officers and directors, affiliates of Sheridan Realty Partners LP.

By John Rebchook | October 18, 2000 at 01:01 AM

Sheridan Plaza, completed in 1999, is fully leased. The total purchase price for the interest is $658,918, payable in the form of 131,784 shares of AmeriVest common stock and 65,892 warrants to purchase AmeriVest common stock at $5 per share through July 10, 2005. The interest was purchased from Sheridan Realty Partners, LP, an affiliate of certain AmeriVest officers and directors.

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