JV Acquires Denver Office/Retail Building

A joint venture between Corum Real Estate Group and Koch Real Estate Investments has closed their $67.7 million acquisition of 210 University, a nine-story, 140,000-square-foot office and retail building located at 210 University Blvd. in Denver, Colo.

A JLL Capital Markets team marketed the property on behalf of the seller and building’s previous owner, KBS Realty Advisors. JLL also assisted the buyers in obtaining a five-year, interest-only fixed-rate loan for the asset’s financing.

210 University was constructed in 1979 and underwent a complete renovation in 2009. The building is home to a mix of office and retail space, and operates at a vacancy rate of 10.6 percent. Tenants of the office space include Baird, Private Capital Management, U.S. Bank, United Capital and Cherry Creek Imaging. The entire complex also includes an elevated parking garage. 210 University’s location in Denver’s Cherry Creek North district places it within 2.5 miles of the city’s downtown and central business districts.