AUGUST 30, 2018
Balfour Pacific Sells Six Buildings in Campus at Longmont
Balfour Pacific Capital Inc. (“Balfour Pacific”) is pleased to announce the sale of six buildings, encompassing 187,995 SF, in the Campus at Longmont for $28.73 million. Balfour Pacific holds its stake in Longmont through its entity GCC Longmont Holdings LLC., which was represented by Dean Callan & Co. in the transaction. The purchasers included Jakobson Properties, LLC, a New York real estate company, and Chernoff Boulder Properties. Jacobson acquired two of the six buildings, encompassing 123,000 SF, for $19.67 million. The two individual buildings were fully leased at the time of sale. Balfour has no current plans to sell the rest of its Longmont portfolio.
In May 2017, Balfour Pacific acquired 27 warehouse, office and lab buildings in the Campus at Longmont for $69.6 million. Situated in Longmont, Colorado, northeast of the county seat of Boulder and 33 miles north-northwest of Denver, the property is benefiting from the strong fundamentals of the Greater Denver market.
For more information on this transaction, visit page 30 of the October 2018 issue of BizWest (link to issue).
About Balfour Pacific: Balfour Pacific is a Vancouver-based private equity real estate firm focused on value-added investments in the United States. Should you wish to learn more about Balfour Pacific or this transaction, please visit our website, www.balfourpacific.com.