US EPA Regional HQ in Denver Sold for $95 Million

BUSINESS WIRE - April 21, 2006

Government Properties Trust, Inc. today announced that it has executed a definitive agreement to acquire a 280,000 square foot, nine story building located in the Lower Downtown Historic District in Denver, Colorado for a price not to exceed $95.0 million. The building is being acquired from an affiliate of Opus Northwest, L.L.C. The property is currently under development. The transaction is scheduled to close and be funded upon the later of December of 2006 or upon the completion of the project and acceptance of the property by the tenant.

The General Services Administration on behalf of the Environmental Protection Agency has executed a 10-year lease for the building which will serve as a regional headquarters. Approximately 16,000 square feet of the building will be available for street level retail space. The project includes 225 on-site underground parking stalls and an additional 122 off-site surface stalls are available.

The Company is currently in the process of securing fixed interest rate financing and a forward interest rate lock has been put in place pending completion of the project. Sphere: Related Content