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Belay, Harbor JV Buys Denver, SoCal Assets for $57M

Harbor Associates, LLC acquired a pair of assets in Denver and Southern California in a joint venture with Belay Investment Group, LLC for a combined $56.9 million.

Capitol Center (pictured) consists of a 12-story mid-century office tower attached to a historic, two story building that totals 166,000 square feet. The buildings are located at 225 E 16th and 1600 Sherman, respectively, in Denver’s Uptown neighborhood. The property, which has 47% in-place occupancy, was acquired from Steelwave for $28.9 million.

700 N. Central is an eight-story, 136,000-square-foot office building located in Glendale, CA that is 75%-leased, and was acquired from CBRE Global Investors for $28 million.

Harbor’s repositioning strategy for both assets include interior updates and exterior enhancements, along with spec suites and new building amenities.

CBRE represented the sellers in both transactions. Mike Winn, Tim Richey and Chad Flynn brokered the Denver transaction, while Michael Longo, Sean Sullivan and Todd Tydlaska led the Glendale sale.

For comments, questions or concerns, please contact Dennis Kaiser

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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.

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