Partial sale of Denver’s second tallest building puts value at $560 million
DENVER — A majority sale of 1801 California St., Denver’s second-tallest building, puts the building value at $560 million.
AFL-CIO Building Investment Trust, based in Baltimore, paid $285.6 million for a 51 percent ownership stake in the building, reports BusinessDen.
AFL-CIO is made of 55 labor unions representing 12.5 million people. The seller was New York-based Brookfield Property Group, which owns the remaining 49 percent. Brookfield purchased the building in 2011 for $215 million and made renovations to it.
SPONSORED CONTENT
Centerra: inspired by a love of Loveland
In Northern Colorado, most people know Centerra as a place to shop, grab a bite or go to a movie. It’s also a favorite location for corporate offices. And it has gained recognition as the region’s top-selling new-home community.
The 54-story, 790-foot building was briefly Denver’s tallest when it was completed in 1983 before being surpassed a year later by Republic Plaza, which is five feet taller.
DENVER — A majority sale of 1801 California St., Denver’s second-tallest building, puts the building value at $560 million.
AFL-CIO Building Investment Trust, based in Baltimore, paid $285.6 million for a 51 percent ownership stake in the building, reports BusinessDen.
AFL-CIO is made of 55 labor unions representing 12.5 million people. The seller was New York-based Brookfield Property Group, which owns the remaining 49 percent. Brookfield purchased the building in 2011 for $215 million and made renovations to it.
The 54-story, 790-foot building was briefly Denver’s tallest when it was completed in 1983 before being surpassed a year later by Republic Plaza,…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!