Newport Beach-based real estate developer and manager The Koll Company is paying $273 million for 12 offices buildings in three states.
Koll is buying the buildings with the Public Employee Retirement System of Idaho. Denver-based AmeriVest Properties Inc. is selling the buildings in Arizona, Colorado and Texas.
The purchase price includes about $126 million in debt. The deal is set to close next month.
The buildings span 1.7 million square feet of office space, representing the entire office portfolio of AmeriVest, a real estate investment trust that is in the process of liquidating.
Most of the buildings are targeted at small users that lease less than 5,000 square feet.
The properties, located in and around Dallas, Denver and Phoenix, range from 79,689 to 202,262 square feet of space. The largest building in the portfolio is Denver’s Centerra Building, a 187,571-square-foot, 18-story tower.