Idaho-based Investment Company Acquires 2-Building Office Portfolio in Colorado Springs
Boise, Idaho-based Alturas Capital Partners has purchased Centennial Technology Center, a 2-building office portfolio totaling 110,405-square-feet in Colorado Springs. Baxter Fain and Christina Grimme of Cushman & Wakefield Denver’s Equity, Debt & Structured Finance Group handled the $11,242,409 acquisition financing and worked on behalf of the buyer to provide 10-year, fixed-rate financing.
The acquisition represented a rare opportunity to acquire investment grade credit leases in a high-growth market of Colorado Springs. The center is 97 percent occupied. Tenants include Comcast (A3) and Walter Kidde United Technologies (A2).
“Colorado Springs’ strong demographics, vibrant business climate, and dramatic population growth have caught the attention of investors and lenders alike,” said Baxter Fain, executive managing director of the firm’s Denver Equity, Debt & Structured Finance Group.
Alturas also owns The Presidio, an 81,222-square-foot Class A office building in Colorado Springs.
Photo courtesy of CoStar