Private-equity firm pays $29M for 370 Interlocken

BROOMFIELD — Equus Capital Partners Ltd., a manager of private-equity real estate funds based in the Philadelphia area, has acquired 370 Interlocken in Broomfield for $29 million.

The 150,656-square-foot Class A office building along the U.S. Highway 36 corridor is the first investment made on behalf of the Equus Investment Partnership XI LP fund.

The six-story building, completed in 1998, underwent common area improvements in 2013 and 2017. The upgrades included a redesigned two-story atrium lobby and renovated common area corridors and bathrooms.

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Building amenities include a tenant lounge, fitness center, bike lab and Wi-Fi accessibility. The property was 94 percent leased at the time of acquisition.

“We are excited to add this property to our growing portfolio. The overall building quality and setting are among the best in the Northwest submarket,” said Brant Glomb, vice president of Equus, who along with Evan Danner, oversaw the acquisition for the firm that closed in June.

John Jugl Jr. and Paul Donahue of Newmark Knight Frank represented the sellers, California-based Rialto Capital  Management LLC, which used the RREF III P Interlocken LLC, Rialto Real EState Fund III Property LLC and Rialto Partners GP III Property LLC, according to public records.