Denver high-rise office building sold for $77 million.

Position:Broadreach Capital Partners LLC - Transwestern Investment Co. LLC - Equity West Investment Partners LLC - Brief article

Broadreach Capital Partners LLC, Palo Alto, California, and Chicago-based Transwestern Investment Co. LLC, in a joint venture with local investor and operator Equity West Investment Partners LLC, Denver, acquired 1999 Broadway, a 642,000-square-foot, 43-story, class-A office tower in downtown Denver from Boston-based Winthrop Financial Associates LP for $77.65 million.

"We are pleased to have acquired such high-quality class-A office space in a recovering market like downtown Denver, where absorption has increased and vacancies have fallen meaningfully in the last 12 months," said Nick Lyle, Broadreach Capital Partners' director responsible for investment activity in Denver. "As the downtown submarket continues to improve, we feel there is a great deal of upside as we lease up the building over the next several quarters," he said.

Located just two blocks from the center of downtown, 1999 Broadway is the last high-rise to have...

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