Alturas Real Estate Fund Purchases 110,405 SF Office Building in Colorado Springs
Boise based Aturas Capital Partners purchased the Centennial Technology Center office building, making the 110,405 SF Centennial Technology Center office building the 3rd Colorado Springs, CO property in the Alturas Real Estate Fund's portfolio.
COLORADO SPRINGS, Colo., Feb. 27, 2020 /PRNewswire-PRWeb/ -- Working with Patrick Devereaux of CBRE and Peter Scoville of Cushman & Wakefield, Alturas Capital Partners added the Centennial Technology Center to the Alturas Real Estate Fund.
The property consists of two single-story office buildings totaling 110,405 SF and is located at 4820 & 4920 Centennial Blvd, Colorado Springs, CO, 80919. The property is now 100% leased. Tenants include Comcast, Walter Kidde, Way Media and most recently, BlueFolder Software.
Centennial Tech is Alturas' third investment in the high growth market of Colorado Springs. It is their largest acquisition to date and brings the Fund's assets under management (AUM) to $150 million.
"Colorado Springs continues to undergo dramatic population and job growth making Centennial Tech a great addition to our growing portfolio. It offers immediate cashflow and should benefit our investors for a long time to come" said Devin Morris, Director of Acquisitions for Alturas Capital Partners.
About Alturas Capital Partners
The Alturas Real Estate Fund, LLC was formed by Alturas to provide high-net-worth individuals and accredited investors access to professionally managed real estate investments.
The Fund is a $100 million equity offering created to make commercial and residential real estate investments. It targets middle-market properties frequently ignored by larger funds. These properties can be profitable as a diverse portfolio that protects the investor's downside risk.
The Fund was created in May 2015 and owns properties in the Intermountain West and Inland Northwest. Managers of the Fund are continually searching for new properties to add to the Fund that meet strict underwriting criteria including a margin of safety, with a focus on cash flows.
About Patrick Devereaux, CBRE
Patrick's focus is on representing his client's interest in the disposition and recapitalization of office assets in the Rocky Mountain Region. He has been a commercial broker for 25+ years and has completed over $3B worth of transactions during that time.
About Peter Scoville, Cushman & Wakefield
Peter specializes in landlord and tenant representation in Office, Medical Office and R&D/Flex properties, with a primary focus on the "Class A" office market. Peter has been in real estate since 2000 and is co-founder of Colorado Springs Commercial, part of the Cushman & Wakefield Alliance program.
SOURCE Alturas Capital
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