Blackstone flips three downtown Boulder buildings for $101M

BOULDER — The real-estate arm of New York private-equity firm Blackstone Group has sold three office buildings in downtown Boulder for $101.3 million, six months after it purchased them for $92.6 million, according to public records.

Three entities registered to New York-based JP Morgan & Co., acquired the buildings at 1900 15th St., 1881 Ninth St. and 1050 Walnut St., according to the records.

Officials for neither Blackstone nor JP Morgan could be reached for comment Wednesday.

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Filings for the three entities submitted to the Colorado Secretary of State list Ethel Gavrilova, vice president at JP Morgan Investment Management Global Real Assets, as the person causing the documents to be filed.

The three buildings total roughly 221,000 square feet of office space, plus a pair of parking garages.

JP Morgan paid $48.37 million for 1050 Walnut St., $39.41 million for 1818 Ninth St., and $13.47 million for 1900 15th St. on May 24.

Last Nov. 21, Blackstone paid Swedish pension manager Alecta $46.4 million for 1050 Walnut, $32.9 million for 1881 Ninth, and $13.27 for 1900 15th.

The 1050 Walnut property includes about 112,000 square feet of office space, in addition to a parking garage. Its tenants include the likes of Foundry Group, Techstars, Siemens Energy and the Southwest Research Institute. In 1997, it sold for  $16.6 million.

The 1881 Ninth St. property includes 76,000 square feet, plus a parking garage. Tenants there include Solera National Bank, TIAA CREF and Finish Line. The property sold in 1998 for $12 million.

The 1900 15th St. property sold in 2012 for $11.9 million.