Grosvenor Investment Management Acquires 154,000 SF Office/Lab Building in Louisville, CO

Grosvenor Investment Management US Inc. (GIM), on behalf of a commingled fund established for Middle Eastern investors, has acquired a 154,000 square foot office/lab building in Louisville, Colorado. 1450 Infinite Drive, built in 1996 as part of the Centennial Valley Business Park, combines approximately 72,000 SF of Class A office space with laboratory and clean room uses. The building is 99 percent leased to three tenants: Sun Microsystems, Inc.; Replidyne, Inc.; and GlobeImmune, Inc.

Philadelphia, PA (PRWEB) May 14, 2007 -- Grosvenor Investment Management US Inc. (GIM), on behalf of a commingled fund established for Middle Eastern investors, has acquired a 154,000 square foot office/lab building in Louisville, Colorado. 1450 Infinite Drive, built in 1996 as part of the Centennial Valley Business Park, combines approximately 72,000 SF of Class A office space with laboratory and clean room uses. The building is 99 percent leased to three tenants: Sun Microsystems, Inc.; Replidyne, Inc.; and GlobeImmune, Inc.

GIM acquired the building from Triumph Real Estate Corporation, represented by Crimson Services LLC. 1450 Infinite Drive is located between Boulder and Denver just off heavily travelled Route 36. Due in part to its proximity to The University of Colorado at Boulder, this area has developed as a center of high-technology, biotechnology, and biopharmaceutical business.

"We acquired this property due to its many competitive advantages, including the quality of construction and substantial building systems, as well as the impressive tenant roster," said Jay Matthes, Director. "We believe the property will compete well in the market over the long term."

Based in Philadelphia, GIM serves as Grosvenor's real estate investment management operation in North America. GIM is part of Grosvenor Fund Management, which was established in 2005 as a vehicle for third-party participation in Grosvenor-managed investments. As of year-end 2006, Grosvenor Fund Management (including GIM) had total funds under management of over USD$5.3 billion internationally.

Grosvenor is a privately owned international property group, representing the interests of the Grosvenor family headed by the Duke of Westminster. The Group undertakes real estate development and investment on its own behalf and on behalf of partners and investors through its regional operating companies and fund management business in the Americas, Britain and Ireland, Continental Europe and Australia Asia Pacific. It operates from 12 offices and has interests in 17 countries. Grosvenor has total real estate assets under management of USD$21.6 billion (as of year-end 2006).

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