Posted by on April 4, 2018

A Baltimore-based investment firm purchased 51 percent of the 54-story 1801 California St. tower in downtown Denver for $285 million.

According to CBRE, it was a partial interest sale. The building’s full value is $560 million.

The remaining 49 percent of the building is still owned by New York-based Brookfield Property Properties Inc. (Nasdaq: BPY), a subsidiary of Toronto-based Brookfield Asset Management Inc.

It paid $215 million for 1801 in December 2011. It took over the master lease from CenturyLink Inc. (NYSE: CTL), which bought Qwest Communications International, in April 2012.

Brookfield refurbished the tower through late 2013, attracting new tenants. Tenants today include Molson Coors Brewing Company, Denver-based healthcare rating site Healthgradesaccounting firm BKD, Denver-based app maker Ibotta and Baltimore-based insurance and financial giant Transamerica Corp., to name a few.

Transamerica in 2015 replaced CenturyLink’s signage with its own. Healthgrades signage appears on the north-facing side of the building.

CenturyLink Inc., which for years had its signage on the building, vacated its space in the tower in fall 2017. Medical-ratings company Healthgrades moved in to take up three of the empty floors.

1801 California is currently 95 percent occupied.

1801 California is Denver’s second tallest office building. The 56-story Republic Plaza tower is the tallest.

By   – Reporter, Denver Business Journal