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Patrick Halloran Acquires Office Towers At 707 And 717 17th Street In Denver For $57.4M
SOLD
$57,400,000
Colorado
See Similar DealsOffice
Sold 11/06/2025
SOLD
Patrick Halloran Acquires Office Towers At 707 And 717 17th Street In Denver For $57.4M
707 17th Street
See Similar DealsOffice
Sold 11/06/2025
Summary
COLORADO
Asset Type:Office
Transaction Type:Sale
The transaction involved the sale of office assets located at 707 17th Street and 717 17th Street in Denver, CO. The properties were sold for a combined amount of $57,400,000. The sale reflects a significant financial downturn for the seller, who originally acquired the properties in 2020 for $395,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $57,400,000
- Buyer: Patrick Halloran
- Seller: Brookfield Properties
- Market: Denver, CO
The seller, Brookfield Properties, divested its ownership stakes in the office towers amidst ongoing challenges in the office market. The acquisition was made by a limited liability company associated with investor Patrick Halloran from Minnesota.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,061,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$203,930.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$272,105.28
Annual Debt Service$3,265,263.41
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