Investcorp, Schnitzer West Dispose of Two Adjacent Office Towers in Denver for $77.5M
DENVER — Investcorp International Inc. and Schnitzer West LLC have completed the disposition of Centerpoint Office Center I and II, two office towers in Denver situated on 3.6 acres at the intersection of Colorado Boulevard and Interstate 25. TerraCap Management LLC acquired the assets for a combined $77.5 million.
The 14-story Centerpoint I offers 168,486 square feet of office space, and the 16-story Centerpoint II features 205,534 square feet of office space. The sellers originally purchased the adjacent Class A towers in 2016.
Jenny Knowlton, Tim Richey, Mike Winn, Charley Will and Chad Flynn of CBRE brokered the transaction. Bank of America provided debt financing for TerraCap.