Hillside New Media Holdings US Inc Acquires One Platte Office Building In Denver For $135M
1701 Platte Street
$135,000,000
$542/SF
Building Size
248,783 SF
Asset Type
Office
Closing
Jul 7, 2025
AI
The property asset involved in the transaction is the One Platte office building located at 1701 Platte Street in Denver, CO. It encompasses a total square footage of 248,783 and was sold for a price of $135,000,000, resulting in a price per square foot of $543.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $135,000,000
- Buyer: Hillside New Media Holdings US Inc
- Seller: Shorenstein Properties LLC
- Sale Date: 07/07/2025
- Market: Denver, CO
- Square Footage: 248,783
- Price per Square Foot: $543
The buyer, Hillside New Media Holdings US Inc., is affiliated with London’s Bet365. The seller, Shorenstein Properties LLC, successfully completed the sale of the One Platte office building, marking a significant transaction in the Denver commercial real estate market.
Players
Denver Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93