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JER, Circle Capital Acquire CarrAmerica's Denver Portfolio

900,000-Square-Foot Office Collection Trades for $100 Million
July 26, 2006
Denver-based Circle Capital Partners LLC and JER Partners of McLean, VA jointly acquired the CarrAmerica Southeast Denver Office Portfolio for approximately $100 million, or about $110 per square foot, from The Blackstone Group LP.

The 908,023-square-foot portfolio is in Denver's Southeast submarket and includes:

-- Harlequin Plaza (North & South buildings): 7600 E. Orchard Road, Greenwood Village -- 327,907 SF

-- Dry Creek Corporate Center II: 10700 E. Geddes Ave., Englewood -- 93,601 SF

-- Dry Creek Corporate Center III: 10800 E. Geddes Ave., Englewood -- 92,356 SF

-- Quebec Court I: 5700 S. Quebec St., Greenwood Village -- 130,000 SF

-- Quebec Court II: 5800 S. Quebec St., Greenwood Village -- 157,294 SF

-- Quebec Centre West: 7340 E. Caley Ave., Centennial -- 35,685 SF

-- Quebec Centre Middle: 7400 E. Caley Ave., Centennial -- 35,736 SF

-- Quebec Centre East: 7430 E. Caley Ave., Centennial -- 35,444 SF

According to JER Partners, the portfolio is 89% leased. Trammell Crow Co. will manage the properties. Ron Urgitus, Tim Swan and Mary Sullivan of the Denver CB Richard Ellis Investment Team represented the seller.
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