Belleview Corporate Plaza Sells for $39.1M
The RMR Office Property Fund, managed by The RMR Group, has acquired Belleview Corporate Plaza, a two-building, 172,220-square-foot, multi-tenant class A office property located in Denver, for $39.1 million. The property is 98 percent leased to tenants in the healthcare, real estate and energy industries.
“The acquisition of Belleview Corporate Plaza demonstrates the fund’s investment philosophy, focusing on core properties in excellent physical condition situated in strong suburban and urban infill office locations and leased to a solid roster of tenants,” said Chris Bilotto, vice president, The RMR Group, and portfolio manager, The RMR Office Property Fund. “The property is located within the Denver Technological Center, one of Denver’s strongest submarkets supported by one of the highest concentrations of high-tech workers in the nation. Adjacent to a newer mixed-use project, the property fits into the live-work-play dynamic of the local micro-market. Given the well-educated labor pool, convenient location and proximity to market amenities, we believe the property will continue to appeal to high-quality companies.”
The RMR Office Property Fund is a private, open-end core-plus fund focused on the acquisition, ownership and leasing of a diverse portfolio of multi-tenant urban infill and suburban office properties located in non-gateway cities throughout the United States.
Photo courtesy of Yardi