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Crescent Acquires Denver’s Riverview for $129M
Crescent is well known in DFW, and is becoming much better known in Denver. The company has purchased the building, including BP America’s headquarters, for $129.1 million.
The seller was Lionstone Investments of California and the California State Teachers Retirement System. The price per square foot of Riverview at 1700 Platte’s recent sale was $604.
The purchase of Riverview follows on the heels of Crescent announcing on Dec. 13 its purchase of 16 buildings in the Boulder area, including Flatiron Park North. Last December, Crescent bought the Kimpton Hotel Monaco, and earlier this year, the firm sold a multifamily property in Belleview Station earlier this year. In addition to Fort Worth, Crescent also has an office in Denver at its Platte Fifteen office building. Crescent has also developed two Denver projects.
In 2016, the owner of Empire Staple Co. Bill Spicer sold Riverview for $12 million.
- ◦Sale/Acquisition
