DENVER-KBS Real Estate Investment Trust II continues its recent surge in high-profile acquisition activity with the $149-million purchase of a signature, 31-story office tower in the CBD here. And according to a prepared statement, the $265 per square foot of the 561,691-square-foot, class-A tower by the Newport Beach, CA-based REIT constitutes one of Colorado’s largest deals of the year according to total cost.
As GlobeSt.com recently posted, Dallas-based Granite Properties Inc. put the skyscraper, named Granite Tower situated at 1099 19th St. up for sale in October. Denver-based Cushman & Wakefield of Colorado Inc.’s Tim Richey, Mike Winn and Chad Flynn handled the marketing of the property.
KBS Capital Advisors represented KBS REIT II. The LEED-EB Gold-certified building becomes the ninth Colorado property owned by KBS-affiliated companies, for a total of more than 1 million square feet in the state. In all, KBS-affiliated companies have added more than 5.5 million square feet of commercial real estate in 2010.
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