CP Group, a owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States, and related fund management today announced that they have acquired Granite Tower. The 31-story office tower was purchased from KBS, an investor in commercial real estate.
“Entering the Denver market has been a long-term goal for our company,” said managing partner Angelo Bianco. “It embodies similar metrics and growth opportunities to those in the balance of the “Smile State” markets in which we have been investing in for 35 years.”
Granite Tower, a Class A, 600,000 square foot office building, is situated within Denver’s central business district.
“We are thrilled to enter the Denver market with an asset of this pedigree,” said Brett Reese, senior vice president at CP Group. “Granite fits directly in our strategy, which is to acquire institutional quality, best located, value-add opportunities in dynamic, growth markets across the country.”