Cress Capital Buys $25M Denver Office
Cress Capital has acquired Union Tower, a 210,000-square-foot office building in Lakewood, Colo., a suburb of Denver, for $25.2 million. TA Realty sold the property in an off-market deal.
Cress Capital has acquired Union Tower, a 210,000-square-foot office building in Lakewood, Colo., a suburb of Denver, for $25.2 million. TA Realty sold the property in an off-market deal.
Outside institutional investors have poured hundreds of millions of dollars into commercial properties in the Boulder Valley and Northern Colorado because they see a market with prices that leave room for profits, either as a landlord or through a quick flip. In the past 18 months, Goldman Sachs, Blackstone Group, Balfour Capital Management, Cress Capital and Crescent Real Estate, all deep-pocket investment groups based elsewhere, have acquired major portfolios in the region.
Orange County’s public company ranks will gain another member with the recent headquarters move of Ducommun Inc., Los Angeles’ oldest company.
Buying right is about seeing what others don’t and being unafraid to be a contrarian; using relationships to capture off-market deal flow and capitalize on the still-inefficient nature of real estate.
Cress Capital completed its biggest acquisition in Colorado – and huge deal for Northern Colorado – with approximately $55.6 million purchase of 23 office and flex buildings in Fort Collins.
Cress Capital LLC has acquired more than 800,000 square feet of office and flex industrial space in Southern California and Colorado for about $110 million. The two transactions include Prospect Portfolio, a 23-building office and flex industrial portfolio totaling more than 500,000 square feet in Fort Collins, Colo., and Sandpointe, two office buildings totaling 301,168 square feet in Orange County, Calif.
Real estate investment firm Cress Capital LLC has acquired several commercial properties in Fort Collins that were part of a blockbuster deal in 2015 between Boulder-based W.W. Reynolds Cos. and Seattle-based Unico Properties Inc.
In an off-market transaction, Newport Beach-based investor Cress Capital LLC has expanded its SoCal portfolio with the acquisition of a 30-acre property encompassing two industrial buildings totaling 310,000 square feet, as well as a 10-acre excess land parcel.
In an off-market transaction, the Newport Beach, CA-based investor in conjunction with PacVentures Inc. buys a 30-acre property here as well as a 10-acre excess land parcel GlobeSt.com EXCLUSIVELY learns.
With Weld County’s industrial market tighter than it’s been in years, a commercial real estate investment company plans to bring new product to the market.