Transwestern Buys Healthcare HQ in Denver Suburb

By Morris Newman

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198 Inverness
in Englewood,CO

ENGLEWOOD, CO-Transwestern Investment Management of Dallas has purchased the headquarters building for Catholic Health Initiatives, located here. The seller is Lowe Enterprises of Los Angeles. The price of the 260,000-square-foot building was not disclosed.

Jones Lang LaSalle represented Lowe Enterprises in the negotiations, while the buyer represented itself and its investment partner, State Farm Insurance Co.

Located in Englewood, a city in Arapaho County, 198 Inverness is “located in submarket that has proven to be stable and in demand by high-quality corporate tenants,” says Transwestern investment management president Laurie Dotter. As an asset, she adds, “it’s the corest of the core.”

The building is fully leased by Catholic Health Initiatives, a nonprofit health organization which operates hospitals, community health-services organizations, as well as long-term care and assisted living facilities.

Completed in 1990, the eight-story structure was later renovated by Lowe. In 1009, the building was the first in the southeast Denver area to receive a LEED Gold rating for an existing building.

The buyer, Transwestern Investment Management, is a subsidiary of Transwestern Investment Group, the real estate investment firm. The seller, Lowe Enterprises, currently controls and/or manages more than $5 billion of commercial, hospitality and residential assets, including approximately 1 million square feet of commercial space in the Denver area. 

Categories: West, Office, Acquisitions/Dispositions, Denver