Two office buildings in Denver have recently been sold for a significantly lower price than their original purchase cost. The properties, located at 8390 and 8350 E. Crescent Parkway, were acquired by Knightsbridge Capital and Westside Investment Partners for $14.3 million combined, totaling over 220,000 square feet of space.
According to the Colorado Real Estate Journal, American National Insurance had previously purchased the two buildings in separate transactions for a total of $47.5 million back in 2014 and 2015.
One building stands at six stories with nearly 87,000 square feet while the other is four stories with approximately136,000 square feet under its roof. In their respective purchases from American National Insurance years prior,the first building was bought for $17.5 million in 2015 while the second was acquired for$30 millionin2014.
Located southwest of E.Belleview Avenueand DTC Boulevards,the properties boast impressive features such as grand lobby entrances,coveted covered parking,and shared amenities like an amphitheaterand water features.JLL’s Sean Whitney and Larry Thiel acted as representatives on behalf ofthe seller during this transaction.
This post originally appeared on Connect CRE.
