Denver Offices Sold by Beacon Capital for $29 Million

A multitenant office property in Englewood has come under new ownership with a nearly $30 million purchase.

Greenwood Village-based Kore Investments acquired 169 Inverness Drive West in Englewood for $28.5 million, the Denver Business Journal reported. Boston-based Beacon Capital Partners sold the office building after purchasing it in 2019 for $27 million.

At the time of closing, the property was 96 percent leased with tenants including UnitedHealthcare, Leidos, CSG Systems and Goosehead. The four-story building spans 117,000 square feet and is entitled for mixed-use zoning, opening the door to adding more density on the surrounding land in the future. The building is located near the Dry Creek light rail station close to dining, retail and hospitality businesses. Kore’s in-house property management services will run the office building.

The sale marks the latest high-profile office transaction in the Denver area. In September, The Luzzatto Company bought the two-building Denver Energy Center complex at auction for nearly $5.3 million, down from the buildings’ 2013 value of $176 million.

In November, Brookfield Properties sold two neighboring office buildings in downtown Denver for approximately $28.7 million each. The 717 17th Street and 707 17th Street buildings were purchased by an LLC tied to Patrick Halloran of Minnesota, who was previously involved with investment firm Wayzata Investment Partners. Brookfield purchased the 29-story building at 717 17th Street in 2020 for $205 million. Brookfield owned the office portion of 707 17th Street, while the hotel segment of the 42-story building is owned by a separate entity. Brookfield purchased the whole building in 2020 for $195 million.

Kore’s holdings include a nearly 192,400-square-foot office building in Lone Tree, which it purchased in September 2024 for $18 million. That property, ParkRidge Four at 10375 Park Meadows Drive, was sold by Principal Financial Group, which bought the building in 2015 for $42.2 million.

— Chris Malone Méndez