JER is the private equity investment arm of J.E. Robert Cos. Circle Capital Partners is a lcoally based private investment firm. The seller was CarrAmerica Realty Corp.
The names of the buildings in the transaction are: the Harlequin Plaza North and South; Dry Creek Corporate Center II and III; Quebec Centre West, Center and East; and Quebec Court I and II.
Cia Buckley, president of US Fund Business for JER Partners, says that with vacancy rates on the decline and office rents increasing, "these assets are very appealing, particularly since they are located in the largest submarket of Denver near desirable, upscale residential neighborhoods."
The deal comes on the heels of New York-based Blackstone's $5.6-billion acquisition of all outstanding shares of CarrAmerica Realty Corp., which took the public company and its 26.4-million-sf portfolio private. Blackstone is now flipping portionfs of the portfolio in various cities, including some Denver assets.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
