Fremont, in turn, plans to sell the to Denver-based Matrix Bancorp Inc., which earlier this year announced it would be the anchor tenant in the building. That deal is expected to close in the next 45 days.
Matrix plans to put a retail bank on the ground floor and lease more than half of the building. Matrix planned to occupy the Terracentre building at 1100 Stout St., but the city paid $15 million in a condemnation action. Last month, the city razed Terracenre to make way for the $268-million expansion of the Colorado Convention Center.
Legacy bought the building in 1999, when it was empty.
Legacy's partner, and majority owner, was a Whitehall real estate fund managed by Goldman Sachs Group Inc. While neither Legacy nor Whitehall will be part of the new ownership group, Legacy will continue to manage the building.
Frederick Ross Co. broker Trent Rice tells GlobeSt.com he will continue to lease space in the tower.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
