Beacon Capital Partners paid $190 million for the 485,000-square-foot campus previously owned by Western Office Portfolio Property Owner LLC, an entity led by Broad Street Principal Investments LLC. Courtesy Unico Investment Group

Boston investor buys Pearl East Business Park for $190M

BOULDER — A little more than two years after the Pearl East Business Park was scooped up by a Goldman Sachs-affiliated investment group, the 11-building portfolio has again sold, this time to Boston-based investment outfit Beacon Capital Partners.

Beacon Capital Partners, using holding company BCSP Pearl East Property LLC, paid $190 million for the 485,000-square-foot campus previously owned by Western Office Portfolio Property Owner LLC, an entity led by Broad Street Principal Investments LLC. 

That’s a $40 million return on Broad Street’s 2019 investment. 

The owner before Broad Street, Unico Investment Group LLC, also maintained a stake in the portfolio.

Unico bought Pearl East for $85 million in January 2015 from W.W. Reynolds Cos. — part of a larger deal in which Unico bought up 1.5-million square feet of W.W. Reynolds’ office space in Boulder and Fort Collins.

Similarly, Broad Street Principal Investments took over the office park as part of a larger portfolio deal involving 27 properties and $710 million. 

Beacon has been on a buying streak in the region of late. The investor bought The Circa office building at 1615 Platte St. in Denver late last month for $60 million, according to a BusinessDen report. 

The Circa was one of the buildings taken over by Broad Street in its $710 million Unico deal.

BOULDER — A little more than two years after the Pearl East Business Park was scooped up by a Goldman Sachs-affiliated investment group, the 11-building portfolio has again sold, this time to Boston-based investment outfit Beacon Capital Partners.

Beacon Capital Partners, using holding company BCSP Pearl East Property LLC, paid $190 million for the 485,000-square-foot campus previously owned by Western Office Portfolio Property Owner LLC, an entity led by Broad Street Principal Investments LLC. 

That’s a $40 million return on Broad Street’s 2019 investment. 

The owner before Broad Street, Unico Investment Group LLC, also maintained a stake in the portfolio.

Unico bought Pearl East for $85 million in January 2015 from W.W. Reynolds Cos. — part of a larger deal in which Unico bought up 1.5-million square feet of W.W. Reynolds’ office space in Boulder and Fort Collins.

Similarly, Broad Street Principal Investments took over the office park as part of a larger portfolio deal involving 27 properties and $710 million. 

Beacon has been on a buying streak in the region of late. The investor bought The Circa office building at 1615 Platte St. in Denver late last month for $60 million, according to a BusinessDen report. 

The Circa was one of the buildings taken over by Broad Street in its $710 million Unico deal.