Diversified International Partners Acquires Denver Office Building In Fund's First Deal
Transwestern Awarded Leasing and Management of Property
HOUSTON, Nov. 7, 2012 /PRNewswire/ -- Transwestern Investment Management (TIM) today announced that Diversified International Partners has purchased 6th Avenue West, a 124,504-square-foot office building located at 350 Indiana in Golden, Colo. Finesa Real Estate Group is the general partner for Diversified International Partners, a private equity real estate fund for Latin American institutional and qualified high net worth investors. TIM is the exclusive investment manager and managed the acquisition process. This is the first time that Colombian Pension Funds have invested in U.S. real estate through this type of discretionary format.
6th Avenue West was acquired in a joint venture with Transwestern Strategic Equity Partners. The building was 75 percent leased at the time of purchase, and the buyers are confident the building's remaining space will lease quickly because it is located in the West Denver submarket – a historically stable market favored by engineering firms.During the due diligence process, TIM found in-depth market expertise in the local services team at Transwestern, which has been engaged to provide leasing and management services.
"We are excited to work with TIM on the repositioning of this asset," said Peter Thomas, a Transwestern vice president in Denver who is on the building's leasing team. "The West Denver submarket is one of the strongest micro-markets along the front range. TIM has the experience, knowledge and resources to make 6th Avenue one of the premier office buildings in the west submarket."
6th Avenue West also presented an attractive investment opportunity because the building features an on-site fitness center, has views from the foot of the Rocky Mountains and is a short drive from downtown Denver.
"This property presented an investment opportunity that meets our goal of providing strong returns to our clients with mitigated downside risk," said Juan DeAngulo, managing director of TIM. "We are extremely confident in Transwestern's team in Denver to bring the building to full occupancy, which allowed us to feel comfortable when closing the deal."
ABOUT TRANSWESTERN INVESTMENT MANAGEMENT
Transwestern Investment Management is a privately held investment advisory firm specializing in designing and executing highly focused investment strategies for corporations, institutional investors and high-net-worth individuals. By combining top-notch research with real-time local market intelligence, the firm offers a proven, consistent track record of delivering superior risk-adjusted returns. For more information, please visit www.transwesterninvest.com.
SOURCE Transwestern Investment Management
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