PARK PLACE ACQUIRED BY HAMILTON PARTNERS, TITAN INVESTMENTS AND LONGWING REAL ESTATE VENTURES
DENVER (AUGUST 11, 2005) -- A Denver Tech Center office building, Park Place located at 5690 DTC Boulevard, has been purchased by a joint venture of Hamilton Partners, a Chicago-based private real estate company, Titan Investments, a Denver-based private development company and Longwing Real Estate Ventures, a New York-based private investment company and a member of the Dubai Investment Group.
The seller was Colorado Public Employees Retirement Association (PERA) which had owned the property since 1993.
“The Park Place acquisition is timely in light of the recovering market conditions in Denver,” said Bob Klauseger, partner for Hamilton. “Major transportation improvements to I-25 have reaffirmed the Tech Center as Denver’s preferred office location.”
Park Place, constructed in 1982, consists of a six-story office and a free standing two-story office with 171,500 square feet of space. It features a 500 space parking garage below the office building.
The Property is the first Denver area acquisition for this joint venture and will have Hamilton and Titan sharing the operating responsibilities. “Our affiliation with Titan provides the local experience we need to effectively acquire and operate properties in Denver,” said Klauseger.
Titan was formed in 1993 as a privately owned real estate firm that specializes in creating value through the strategic development of mixed-use properties. Since its inception Titan has developed thirteen projects with a market value of over $300 million. More information on Titan is available at email@example.com.
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