Owner of Boulder, Longmont office parks launches new fund for growth in Colorado

BOULDER — Texas-based Goff Capital Partners, which owns business parks in Boulder and Longmont, has merged operations with affiliated firm Crescent Real Estate Holdings and launched a new fund that will enable the combined company to significantly increase its holdings, including in Colorado.

Conrad Suszynski, managing principal for Goff at its Colorado office in Centennial, will serve as co-chief executive of the new company, along with Jason Anderson, who is based in Fort Worth, Texas. John Goff, who founded both companies, will serve as chairman.

Suszynski said in a phone interview that the new $200 million fund, dubbed GP Invitation Fund I, has been raised and will allow the company to acquire up to $4 billion in new properties through various partnerships with other entities.

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“It’s fresh capital so we can expand,” Suszynski said. “Colorado is a state that reflects everything we’re looking for in terms of demographics. We will be expanding here.”

Goff’s Colorado holdings include slightly more than 2 million square feet of commercial space, primarily in Flatiron Park in Boulder and The Campus at Longmont in Longmont. In addition to those two, the company owns the Riverpoint Building in downtown Denver and is developing the mixed-use Platte Fifteen project in Denver.

As for acquisitions in Colorado, Suszynski said Goff has “a few in the pipeline” but none he can announce. While most of Goff’s holdings in Colorado are office buildings, Suszynski noted that the company is active nationally in the apartment and hospitality markets, and that it will also look at further development opportunities in Colorado.

Goff bought Flatiron Park in east Boulder in 2011 for $67.8 million, and followed that up with the $58.3 million purchase of The Campus at Longmont the following year.

Most recently, the company is working on an addition to and the renovation of the building at 5541 Central Ave., in Boulder where New Hope Network and Sovrn Holdings plan to lease space.