A DTC office building has sold at a loss to two local firms buying office space on the cheap.
The 14-story, 216,500-square-foot Prentice Point office building at 5299 DTC Blvd. in Greenwood Village sold Wednesday for $14 million, according to public records.
That’s 60 percent below the $35 million the seller, an affiliate of Miami-based Rialto Capital, paid in 2017. And it’s less than the building fetched in every deal since 1994, according to a BusinessDen review.
The latest deal works out to $65 a square foot. The building was purchased by Denver-based Westside Investment Partners, led by Andy Klein, and Denver-based Knightbridge Capital, founded by Riki Hashimoto and Matt Ritter.
It’s not the firms’ first deal together. In June, Westside and Knightbridge bought the structures at 8350 and 8390 E. Crescent Parkway in Greenwood Village, which are next door to Prentice Point. Those buildings, which combine for about 215,000 square feet, were also bought at a steep discount.