- July 7, 2021
- Posted by: Stratford Team
- Category: Business
A little more than two years after the Pearl East Business Park was scooped up by a Goldman Sachs-affiliated investment group, the 11-building portfolio has again sold, this time to Boston-based investment outfit Beacon Capital Partners.
Beacon Capital Partners, using holding company BCSP Pearl East Property LLC, paid $190 million for the 485,000-square-foot campus previously owned by Western Office Portfolio Property Owner LLC, an entity led by Broad Street Principal Investments LLC.
That’s a $40 million return on Broad Street’s 2019 investment.
The owner before Broad Street, Unico Investment Group LLC, also maintained a stake in the portfolio.
Unico bought Pearl East for $85 million in January 2015 from W.W. Reynolds Cos. — part of a larger deal in which Unico bought up 1.5-million square feet of W.W. Reynolds’ office space in Boulder and Fort Collins.
Similarly, Broad Street Principal Investments took over the office park as part of a…