Bamboo Equity Partners, a St. Louis-based private equity real estate investment and advisory firm, has closed on the acquisition of the Church Ranch Flex Portfolio, a 150,848-square-foot, three-building flex industrial campus located in Westminster, along with 6.2 acres of developable land. The acquisition represents another strategic step in the firm’s continued expansion across the Western U.S. and nationally.
The portfolio offers immediate in-place cash flow with a current occupancy of 81.4% and a 2.71-year weighted average lease term (WALT), while also presenting meaningful long-term upside through targeted repositioning and future development. Bamboo’s business plan includes converting existing flex office suites into shallow bay flex industrial space to capture surging demand from high-growth tenant segments along the Highway 36 corridor between Denver and Boulder.
Planned capital improvements will emphasize highly functional, flexible layouts with modern finishes designed to broaden the tenant base while maintaining rental rates that remain competitive below new construction. The repositioning strategy is expected to improve leasing velocity, reduce tenant improvement costs, and diversify the rent roll.
In addition to stabilizing the existing improvements, Bamboo will evaluate multiple strategies for the 6.2-acre development parcel, including a potential land sale to capture near-term value or the development of up to approximately 88,550 square feet of new flex industrial space. This optionality provides a secondary growth lever to enhance overall returns and long-term exit value.
The portfolio was acquired at a basis significantly below today’s flex industrial replacement cost, offering an attractive entry point while allowing Bamboo to offer competitive rents relative to new construction and drive strong return-on-cost potential following the planned improvements.
“This acquisition reflects our continued confidence in high-growth Western markets and our ability to uncover assets with both immediate income and long-term optionality,” said Dan Dokovic, managing principal and founder of Bamboo Equity Partners. “Church Ranch checks all the boxes: a desirable infill location, below-replacement cost entry, strong in-place cash flow, and multiple paths to value creation. As we continue expanding our footprint in Colorado and other key markets nationwide, this investment aligns directly with our strategy of disciplined growth and thoughtful repositioning.”
