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German Investor Acquires Denver Asset for $154M

German investor Union Investment acquired the 10-story Triangle Building in Denver from an affiliate of Starwood Capital Group and East West Partners for $154 million. The 226,000-square-foot office building includes 10,000 square feet of ground-level retail, and was delivered in 2015 by East West.

The 98%-occupied property is located in Lower Downtown at 1550 Wewatta St., within the resurgent Union Station neighborhood. Building tenants include Liberty Global and WeWork, which lease roughly 70% of the available space.

The buyer notes the asset quality and location aligns with its global portfolio and investment strategy. The property will be added to its Unilmmo: Global portfolio fund.

The Starwood Capital-East West team acquired the site early in the cycle, and now that a citywide renaissance is underway, that investment-development strategy proved well timed.

For comments, questions or concerns, please contact Dennis Kaiser

Read More News Stories About: Starwood Capital Group
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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition