HANNAY REALTY ADVISORS IS PLEASED TO ANNOUNCE THE PURCHASE OF THE POINT AT INVERNESS IN ENGLEWOOD (DENVER), COLORADO
Phoenix-based Hannay Realty Advisors (www.hannayra.com) is pleased to announce that it has acted as an advisor to ARTIS REIT (http://www.artisreit.com) and Nicola Crosby (http://nicolacrosby.com) on the purchase of The Point at Inverness, a 186,945 square foot Class A office asset located in an irreplaceable location within the heart of the renowned Inverness Business Park at the intersection of Interstate 25 and County Line Road in southeast Denver. The property is adjacent to the County Line Light Rail Station, across the freeway from the acclaimed Park Meadows Mall, and is within minutes of executive housing and countless other amenities. This best-in-class building is 97% occupied by high credit tenants providing a strong and stable income stream. With this acquisition, Hannay has now acted as an advisor on 5 purchases in the Denver area with a combined value in excess of $250 million in the past 24 months. “The Point at Inverness is a high profile Class A asset with an irreplaceable location in a strong office node. We are very pleased to add this asset to our growing portfolio in the Denver Market. We are actively looking for future acquisition and co-investment opportunities in the Denver area and throughout the western US, with a focus on quality retail centers and core to core plus office properties”, said company president Craig Hannay. Hannay will provide the asset and property management services for the building, adding to Hannay’s growing management portfolio. Hannay’s Denver portfolio of office and retail properties under management is now over 6 million square feet.
ABOUT HANNAY REALTY ADVISORS Hannay Realty Advisors is a 25-year old privately-owned commercial real estate services and investment firm based in Phoenix, Arizona. The company currently manages approximately 12 million square feet of commercial properties with offices in Arizona, California, Colorado, Washington, and Nevada. Hannay’s unique ability to co-invest with its investors, when required, provides greater flexibility and additional opportunities for their acquisitions program. Hannay’s management, and investment expertise in retail, office, and industrial properties makes them one of the industry leaders in the western United States. Hannay Realty Advisors provides “Institutional Resources and Local Market Knowledge.” The asset and property management contact for The Point at Inverness is Bruce Backstrom, Chief Operating Officer in Hannay Realty Advisors’ Denver office, (720) 399-1461. For commercial real estate acquisition opportunities, the contact is Christopher Lacasse, at Hannay’s headquarters in Phoenix, Arizona, (602) 374-2000.
ABOUT ARTIS REIT Artis REIT (TSX: AX.UN) is one of the largest diversified commercial real estate investment trusts in Canada. Artis REIT’s management team has extensive experience in construction, development, and management of commercial and other properties in Canada and the United States. Over the last ten years, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of office, retail and industrial properties in Canada and select U.S. markets with a major concentration in Western Canada.
ABOUT NICOLA CROSBY Nicola Crosby Real Estate, a subsidiary of Nicola Wealth Management, sources and manages properties for the SPIRE real estate portfolios, offering clients of Nicola Wealth Management an opportunity to invest in real estate with an experienced management team. SPIRE US LP is a real estate portfolio comprised of office, retail and industrial properties located in Seattle, boutique office properties in downtown San Francisco and an office property in Denver. The portfolio also includes interests in over 12,600 multi-family apartment units located in the Southeast US. SPIRE Real Estate LP is a real estate portfolio comprised of retail, industrial, office and self-storage properties totalling 2.96 million square feet located in major Canadian markets. SPIRE Value Add LP is a new addition to the SPIRE real estate portfolios, and focuses on generating returns through re-sale of investments in multiple projects using “value-add” strategies.