Spencer Fane LLP is pleased to announce that the firm assisted Berkeley Partners in the recent acquisition of a 1.95-million-square-foot Colorado Industrial Portfolio for $247.5 million. This is the largest industrial real estate transaction in Colorado’s history.
Jim Kurtz-Phelan, a Spencer Fane partner in the firm’s Denver office, served as lead attorney for the purchase transaction, while collaborating with Spencer Fane attorneys in Denver, Kansas City, Phoenix, and Dallas to finalize the deal.
“This was a team effort on the part of both Spencer Fane and Berkeley Partners. We committed to utilizing all of the necessary resources to ensure Berkeley Partners completed this transaction,” Kurtz-Phelan said. “This provided a strong reminder of the strength in our firm to provide comprehensive legal services, regardless of attorney location. We thank Berkeley Partners for the opportunity to serve them.”
The 19 properties Berkeley Partners acquired from Etkin Johnson Real Estate Partners range in size from 26,078 square feet to 293,510 square feet. The properties are located throughout the state with sites in Denver, Arvada, Aurora, Boulder, Centennial, Colorado Springs, Englewood, Golden, Thornton, Westminster and Wheat Ridge.
At the time the deal was finalized, 93 percent of the portfolio was leased.
About Berkeley Partners
Founded in 2005, Berkeley Partners has formed a series of funds focused on the light industrial sector. Berkeley Partners includes a seasoned team of professionals with diversified experience in fund management, real estate investment, and property and leasing management. The company and its affiliated entities make-up a vertically integrated real estate operating company, which has demonstrated an ability to manage investments, operations and dispositions through market cycles. Berkeley Partners’ industrial platform currently has assets under management totaling over $625 million, including value-add and core-plus strategies. The company’s investors include large pension plans, insurance companies, endowments, foundations and family offices.