University Of Colorado Acquires 79 Percent Vacant Office Tower In Denver For $29.75M
950 17th Street
$29,750,000
Building Size
—
Asset Type
Office
Closing
Jun 24, 2026
About this deal
AI
The asset involved in this transaction is Independence Place, a 25-story office tower located at 950 17th Street in Denver, CO. The property is currently 79% vacant and features two annexes along with three levels of underground parking. The University of Colorado has acquired this office space for a total sale price of $29,750,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $29,750,000
- Buyer: University of Colorado
- Market: Denver, CO
- Vacancy Rate: 79%
The deal was approved by the University of Colorado Board of Regents, reflecting a strategic acquisition for the institution. The transaction encompasses both the tower and its associated annexes, facilitating potential future use or redevelopment opportunities.
On the Map
$29,750,000
Office
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Players
Market Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93