DENVER – August 1, 2019 – Broe Real Estate Group (BREG), a private real estate investment firm and affiliate of The Broe Group, headquartered in Denver, CO, confirmed the $15.6M acquisition of a 57,257 square foot medical pavilion located on 4.23 acres at 125 Inverness Drive East, Englewood, Colo.
Constructed in 2000, the three-story multi-specialty medical building located in Arapahoe County is uniquely located proximate to four greater Denver area hospitals including Sky Ridge Medical Center (3.4 miles), Centennial Medical Plaza (2.3 miles), Medical Center of Aurora (7.5 miles) and Littleton Adventist Hospital (6.2 miles). The property is an attractive, off-campus medical office asset located in a well-established suburban office and residential hub within one of the fastest growing metropolitan regions in the United States.
“This acquisition is the latest example of our medical office building repositioning strategy,” says BREG CEO Doug Wells. “As a local operator, the BREG team is well-suited to address pending tenant roll and secure strong long-term occupancy. By investing significant capital in physical upgrades and leasing costs and executing a focused asset management program, we will ensure that our tenants can continue to deliver the needed medical services for Coloradans that live and work in south Denver’s rapidly growing region.”
Dry Creek Medical Office Building marks BREG’s fourth major MOB repositioning project in the past twelve months totaling nearly 540,000 square feet. Medical assets continue to play a major role in BREG’s Western United States acquisition strategy as it continues to assess opportunities with viable institutional medical exits.
Chris Bodnar and Lee Asher from CBRE Healthcare Capital Markets listed the property for sale. “Market demand for non-hospital medical services is at an all-time high and Colorado’s population growth continues to exceed national growth rate. Dry Creek Medical Office Building is an institutional quality asset within a highly established, high growth market,” noted Chris Bodnar, CBRE Vice Chairman.
About Broe Real Estate Group
Broe Real Estate Group, an affiliate of The Broe Group, acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group has a 50-year history of value-add real estate investing in Colorado and across the United States. We improve value though the implementation of focused business plans that increase cash flow and create stable income streams. For more information, visit broerealestate.com.
About OmniTRAX, Inc.
As one of North America’s largest and fastest growing private railroad and transportation management companies, OmniTRAX’s core capabilities range from providing transportation and supply chain management services to railroad and port companies, to providing intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at omnitrax.com.
About The Broe Group
Founded in 1972, The Broe Group is a private, multi-billion-dollar investment group with diversified holdings in real estate, rail, infrastructure, energy, agriculture, water, healthcare and technology throughout 37 North American states and provinces. Its deep operational knowledge derived from owning and operating multi-billion-dollar businesses and the global economic insights gleaned from serving its vast Fortune 500 clientele are strategic differentiators. The Broe Group’s entrepreneurial focus enables it to find true value wherever it resides. For more information, visit broe.com.
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