BOULDER — Good Investment Partners LLC, a new Denver-based private equity firm led by local commercial real estate veterans, has made a splash with the acquisition of a six-building portfolio in Boulder. 

The company bought the 13-acre, 184,462-square-foot portfolio made up of Class B flex, industrial and office spaces from Westside Investment Partners Inc. for $39 million. 

Three of the buildings are on Winchester Circle and the three others are nearby at the Twin Lakes Business Park on Nautilus Circle.

GIP, which launched in January, is led by managing partner Ryan Good, formerly with Etkin Johnson Real Estate Partners.

Etkin, a major player in Boulder County commercial real estate for decades, was one of the main developers of the Colorado Tech Center.

A little more than a year ago, the company offloaded its last assets within the park and wound down its business. 

Hannah Cope is a GIP’s vice president and partner. She was formerly with California real estate company Berkeley Partners LLC, which has also bought and sold Boulder County properties in recent years. 

Caroline Grote is also a GIP vice president and partner, according to the firm’s website.

Longmont’s Sentinel Management will serve as GIP’s property manager.

“Both Ryan and I believe in identifying opportunities that have strong fundamentals and are supported by an economic framework for outcomes and performance throughout the entirety of the assets’ lifecycles,” Cope told BizWest Thursday. “It’s about rolling up our sleeves, getting deals done and leaving the bureaucracy behind.”

At the newly purchased Boulder portfolio, which is home to such tenants as Spark Grills Inc. and Encision Inc. (OTC/Pink: ECIA), GIP plans some exterior modernization and landscaping work to lend the properties more of a campus-like feel, Cope said. 

Newmark executive managing director Riki Hashimoto, director Sean Whitney and associate Philip Lee represented the seller in the deal.

“Boulder’s market fundamentals, specifically the supply imbalance relative to demand, are incredibly strong,” Whitney said in a prepared statement. “Unsurprisingly, the life science market is the primary driver of absorption, fueled by the University of Colorado Boulder’s investment in its student base. We were thrilled to represent Westside Investment Partners, which excelled at positioning these assets, growing rents and meeting the booming market of Boulder. Good Investment Partners’ vision and deal execution were vital to the transaction, and we expect it to be a viable player in the market well into the future.”