One of Denver Place’s towers in 2018. (BusinessDen file)
Denver Place, the two-tower downtown office complex, is poised for new ownership.
Florida-based CP Group is buying the 930,000-square-foot complex at 999 18th St., sources tell BusinessDen.
State records show that two entities — CPG AM Denver Place and CPG PM Denver Place — were formed in the fall. Both list an office address corresponding to CP Group’s headquarters in Boca Raton.
CP Group already owns the neighboring Granite Tower. It purchased that office tower, at 1099 18th St., in 2021 for $174 million, records show.
Denver Place last sold in 2007 for $200 million to LBA Realty, records show. One source described the pending sale to BusinessDen as lender-driven. LBA removed Denver Place from its online portfolio in 2024, according to archived versions of the company’s website.
Denver Place is 74% leased, according to CoStar. Among the tenants is Vertafore, a software company with signage atop one of the towers. One tower is 34 stories, the other is 23 stories.
CP Group also has a lawsuit pending against Lone Star Funds, the Dallas, Texas-based owner of the nearby 17th Street Plaza office tower. CP Group alleges that it was cut out of Lone Star’s purchase.
One of Denver Place’s towers in 2018. (BusinessDen file)
Denver Place, the two-tower downtown office complex, is poised for new ownership.
Florida-based CP Group is buying the 930,000-square-foot complex at 999 18th St., sources tell BusinessDen.
State records show that two entities — CPG AM Denver Place and CPG PM Denver Place — were formed in the fall. Both list an office address corresponding to CP Group’s headquarters in Boca Raton.
CP Group already owns the neighboring Granite Tower. It purchased that office tower, at 1099 18th St., in 2021 for $174 million, records show.
Denver Place last sold in 2007 for $200 million to LBA Realty, records show. One source described the pending sale to BusinessDen as lender-driven. LBA removed Denver Place from its online portfolio in 2024, according to archived versions of the company’s website.
Denver Place is 74% leased, according to CoStar. Among the tenants is Vertafore, a software company with signage atop one of the towers. One tower is 34 stories, the other is 23 stories.
CP Group also has a lawsuit pending against Lone Star Funds, the Dallas, Texas-based owner of the nearby 17th Street Plaza office tower. CP Group alleges that it was cut out of Lone Star’s purchase.
