Transwestern Investment Management (TIM) today announced it purchased 198 Inverness Drive from Lowe Enterprises acting on behalf of a pension fund client. The project, a 160,851 square foot office project in Southeast Denver, was acquired by the firm along with equity partner, State Farm Life Insurance Company. The building is 100 percent occupied by Catholic Health Initiatives (CHI) and serves as its corporate headquarters. CHI is a national, faith-based, nonprofit health organization which operates in 19 states and includes hospitals, long-term care, assisted and residential living facilities, community health-services organizations, among numerous other facilities.
The eight-story, Class "A" office project, originally developed in 1990, earned its Leadership in Energy and Environmental Design (LEED®) certification from the US Green Building Council (USGBC) in 2009. It was the first office building in the Denver Southeast office market to achieve LEED Gold for Existing Buildings.
Jones Lang LaSalle represented Lowe Enterprises.
According to Laurie Dotter, president of TIM, "Our acquisition of the Inverness building is consistent with our objective to acquire quality assets enhanced by stable credit income. It is the type of core equity investment we are seeking on behalf of our partner State Farm Life Insurance Company."
About Transwestern Investment Management:
Transwestern Investment Management ("TIM") is a privately-held, operationally independent investment advisory firm with the experience and capabilities to customize investment strategies to address changing risks and opportunities in the U.S. real estate markets. The firm is a subsidiary of Transwestern Investment Group, the real estate investment firm serving a broad range of clients through a diversified array of vehicles including separate accounts, joint ventures and programmatic funds.
The firm's operating structure is designed to enhance investment and asset management decision-making, accountability, and risk management to positively impact clients' investment performance. Clients benefit from Transwestern's national best-in-class services, access to penetrating local market insight and research, enhanced access to opportunities and superior local execution capabilities.
About Lowe Enterprises:
Los Angeles-based Lowe Enterprises is a leading national real estate investment, development and management firm. Over the past 39 years, it has developed, acquired or managed more than $16 billion of real estate assets nationwide. Lowe is currently responsible for more than $5 billion of commercial, hospitality and residential assets. Lowe Enterprises Investors, the firm's investment management affiliate, has been responsible for $6 billion in real estate assets since inception in the late 1980s. Lowe has maintained a regional office in Denver since 1985 and is an active investor and developer of institutional quality real estate including office, industrial and residential products. The firm currently operates approximately one million square feet of commercial space in the Denver area. Lowe Enterprises maintains additional regional offices in Southern California, Northern California and Washington, D.C. For further information on Lowe's activities, please visit: www.LoweEnterprises.com