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Boulder office portfolio sells for combined $146.7M

By Lucas High — 

BOULDER — New York-based real estate investment and development firm Clarion Partners LLC has acquired a trio of central Boulder office buildings for $146.7 million.

This building at 1050 Walnut St. in downtown Boulder is one of three downtown Boulder properties that sold in late December. BizWest/Doug Storum

The sales, which were recorded the last week of December, included 1050 Walnut St., 1881 Ninth St. and 1900 15th St.  The individual buildings sold at $72.3 million, $51.5 million and $27.9 million, respectively.

Private equity firm Blackstone Group entities purchased the properties from Swedish pension manager Alecta in 2016 for $92.6 million. The buildings were flipped in 2017 for $101.3 million to J.P. Morgan. The December sale represents a 44.8 percent increase from the 2017 sale, and 58.4 percent increase since the 2016 sale.

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

Clarion has been on a Boulder spending spree. The trio of commercial deals comes roughly a week after Clarion bought the 2121 Canyon apartment community in Boulder for just under $17.2 million.

 

BOULDER — New York-based real estate investment and development firm Clarion Partners LLC has acquired a trio of central Boulder office buildings for $146.7 million.

This building at 1050 Walnut St. in downtown Boulder is one of three downtown Boulder properties that sold in late December. BizWest/Doug Storum

The sales, which were recorded the last week of December, included 1050 Walnut St., 1881 Ninth St. and 1900 15th St.  The individual buildings sold at $72.3 million, $51.5 million and $27.9 million, respectively.

Private equity firm Blackstone Group entities purchased the properties from Swedish pension manager Alecta in 2016 for $92.6 million. The buildings were flipped in 2017 for $101.3 million to J.P. Morgan. The December sale represents a 44.8 percent increase from the 2017 sale, and 58.4 percent increase since the 2016 sale.

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

Clarion has been on a Boulder spending spree. The trio of commercial deals comes roughly a week after Clarion bought the 2121 Canyon apartment community in Boulder for just under $17.2 million.

 

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