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Koll, Partner Pay $273M for Offices

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.

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Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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