Unico-Reynolds real estate deal valued at $209 million

FORT COLLINS — Seattle-based real estate investment company Unico Properties LLC paid approximately $209 million to Boulder-based W.W. Reynolds for 1.5 million square feet of commercial property in Boulder and Fort Collins, a blockbuster commercial deal that was first reported by BizWest Jan. 30.

The total price has not previously been disclosed. Representatives of Unico could not be reached for comment.

Just days after the massive Boulder-Fort Collins sale closed, Unico sold the Fort Collins portion of the portfolio for an undisclosed amount to Prospect Development Partners LLC, an entity formed by Ronald M. Abramson of Niwot.

Neither Unico Properties nor W.W. Reynolds disclosed the sale price, but public records show that Unico paid Boulder-based W.W. Reynolds approximately $41 million for the portfolio of commercial property in Fort Collins and $168 million for a portfolio of commercial properties in Boulder.

Unico bought 507,005 square feet in 24 properties located in the Prospect East Business Park, southeast of the intersection of E. Prospect Road and S. Timberline Road in Fort Collins, and about 1 million square feet of commercial space in Boulder.

The Fort Collins portfolio included eight transactions dated Jan. 29 and 30, involving seven entities formed by Unico, according to SKLD Title Services, a compiler of property records.

According to Boulder County property records, various affiliates of Unico were used in a series of 13 transactions recorded Jan. 29 for properties in Boulder. The Boulder portfolio consists of 27 buildings and 1,013,443 square feet in four different office parks – the Pearl East Business Park, Tierra Business Centre, Flatirons Business Center and Highpoint Business Park. All four parks are located in East Boulder. The deal did not include any of Reynolds’ holdings in downtown Boulder.

Unico in 2012 bought a majority stake in a portfolio of 14 downtown Boulder buildings owned by J. Nold Midyette that amounts to 354,000 square feet on or around the Pearl Street Mall. Carner said Unico now owns about 13 million square feet of commercial property in Washington, Oregon, Colorado, Utah and Texas, including about 2 million square feet in Denver.

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