Tech Center II is a four-story class A office building that was built in 1998 with a total net rentable area of more than 146,000 sf. At the time of financing, the property was 87% leased, with NxTrend Technology, Inc. occupying 60% of the building.
Eric Tupler, senior director, of LJ Melody's Denver office, secured the funding for this transaction on behalf of the Westminster Funds. The Westminster Funds are a series of investment partnerships sponsored by Westminster Advisors LLC, based in Lake Forest, IL. The Westminster Funds currently consist of approximately $250 million of investment equity primarily from wealthy US and European families, several large insurance companies, numerous foundations and endowments.
Currently, the six investment funds own more than $1 billion of commercial properties across the continental US. Principal Mark Mazur represented the private equity fund in acquiring the property and securing the financing.
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