CP Group And Time Equities Acquire Denver Place Office Tower From LBA Properties For $47.5M

The property asset involved in the transaction is an office building located at 999 18th Street in Denver, CO, encompassing a total of 930,000 square feet. The sale was completed for $47,500,000, equating to a price per square foot of approximately $51.08, which reflects a significant reduction from the previous acquisition price of $200 million by LBA Properties in 2007.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $47,500,000
• Square Footage: 930,000
• Address: 999 18th Street
• Market: Denver, CO
• Buyer: CP Group & Time Equities
• Seller: LBA Properties
• Price per Square Foot: $51.08

The key individuals and companies involved in this deal include CP Group and Time Equities acting as the buyers who acquired the property from LBA Properties, the seller. This transaction represents a notable shift in ownership within the office sector of the Denver market.