Principal Real Estate sold a 17-story Denver office tower for nearly ten million dollars less than it paid for it. A New York-based purchaser paid $22.4 million for the 253,000-square-foot high-rise at 1290 Broadway, across from the state Capitol. The Denver Business Journal reports Principal bought the property, known as Security Life Center, in 2005 for $31.8 million.

Built in 1986, the towers’ tenants include GHP Investment Advisors, investment fund company Alps Holdings, the Colorado Bar Association and Quarterra, a subsidiary of homebuilder Lennar.

In late February, Westport Capital Partners relinquished a 31-story office tower two blocks from the state Capitol to its lender. In January, a one-story office building and parking lot near Coors Field were also surrendered to its lender.