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Vista Investment Group Enters CO Real Estate Market with $30.475 MM Buy of Denver Office Building
By: Vista Investment Group
Signature Centre is the first acquisition for Vista in 2021. Vista currently manages a ~$1 billion commercial real estate portfolio that includes 2,000 multifamily units and nearly two million square feet of office space in California, Oregon and Washington. The firm will pursue increasingly larger, core-plus, value-add and distressed opportunities throughout the Western states with a particular emphasis in Colorado and Utah.
Located at 14143 Denver West Parkway, the 185,743-square-
Built in 2007, Signature Centre is one of only seven LEED Platinum Core & Shell certified buildings in Colorado and one of the most energy efficient buildings in the state. Features include passive solar design and airflow systems, hydronic heating and cooling and 100 percent raised flooring. Onsite building amenities include a 2,400-square-
While Vista invests in both urban infill and suburban markets, they were particularly drawn to the attractive risk/reward fundamentals of this suburban office market in West Denver, according to Vista President Jonathan Barach.
"Signature Centre is a stabilized, high-yielding office property, with a blue-chip tenant base in one of the strongest submarkets in Denver," said Barach. "We were able to secure the asset at an attractive cap rate and at a price substantially below replacement cost. We will buy as many of these deal profiles as there are opportunities to do so."
Tim Richey, Charley Will, Mike Winn, Chad Flynn, and Jenny Knowlton from CBRE's Denver office represented the seller transaction.
About Vista Investment Group
Vista Investment Group, LLC (http://www.vistainvestmentgroup.com) is a privately held real estate investment firm, engaged in the acquisition and active management of commercial property located in urban infill markets throughout the Western US. The Los Angeles-based company was founded in 2008 to focus on value-add and opportunistic strategies in the multifamily, mixed-use and office sectors.
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Page Updated Last on: Mar 01, 2021