DENVER – A partnership of Houston-based Griffin Partners and Investcorp, a Bahrain-based investment adviser, has acquired 10 buildings in Denver for $78.5 million.
The seller, Hines REIT, was represented by Newmark Grubb Knight Frank.
The 485,000-SF Denver portfolio, which is 95 percent occupied, includes seven buildings in the Arapahoe Business Park and three buildings off of Inverness Drive South.
Based in Houston, Griffin Partners Chairman Fred Griffin, with Conley Juban, formed Griffin/Juban Companies, the predecessor to Griffin Partners. He was formerly with Friendswood Development. His son, Edward Griffin is now CEO and President of the firm.
“Investcorp and Griffin Partners were drawn to the opportunity to own superior prime office/flex assets in such a fast-growing market,” said NGKF Capital Markets Executive Managing Director Dave Tilton.
June 21, 2016