PRESS RELEASES

Equastone Sells Office Building in Colorado

Denver, CO – Equastone, a private real estate investment company based in San Diego, California, has announced the sale of 325 Interlocken Parkway Building C in Broomfield, Colorado. The building is a one story 19,764 square foot office/flex property located at the Interlocken Business Park.  Equastone acquired the property on behalf of Equastone Value Fund II in February, 2007.  The purchaser, JN Properties, LLC, will operate multiple businesses from 325 Interlocken C including Fischer Medical Technologies, Inc., a developer of medical and research products. Doug Bakke and Frank Kelley of CBRE represented Equastone; Eric Brynstad of The Staubach Company represented the buyer. 

325 Interlocken consists of three stand alone office buildings. Equastone created a condominium map for the three buildings with the intent to sell them as owner/user opportunities. Building C was the first building sold. Building A (21,660 square feet) and Building B (23,035 square feet) are both available for sale or lease to investors, owners and users.

According to Equastone’s Chief Operating Officer, Kirk Cypel, "We are continually working on creative strategies to add value to our properties.  Office condominium ownership has been popular in cities like San Diego, Phoenix, Seattle, Miami and Austin.  It is a smart alternative to leasing because tenants can often reduce their occupancy cost. Also, users that acquire buildings can realize cash profits by subsequently selling their building in a sale/leaseback transaction."

Todd Parker, Equastone’s Executive Vice President, said, "We repositioned the office park to create an own versus lease opportunity. We can sell these buildings below replacement cost, allow buyers to reduce occupancy costs as opposed to leasing and realize sales prices that achieve Equastone’s investment objectives.  The sale of Building C represented good value to our buyer; it was a classic win-win transaction."

Owning versus leasing is an attractive proposition for businesses who want to avoid rising occupancy costs, exercise control over their business environment and realize the appreciation in value that comes with buying well-located property.  Condominium purchases are often more economical than buying, building or leasing comparable properties. And businesses that own their real estate may have an opportunity to obtain advantageous financing and tax benefits.  For more information on Equastone’s available Interlocken properties, contact listing brokers Scott Garel, Joe Heath and Don Misner, Frederick Ross Company, (303) 892-1111.

About Equastone
Equastone’s affiliated funds currently own 59 office and flex buildings encompassing nearly 9.4 million square feet throughout the United States. Equastone has offices in San Diego, Denver, Dallas and Houston, and owns properties in California, Arizona, Colorado, Georgia, Louisiana, Nevada, Oregon and Texas.

Equastone is a real estate investment firm specializing in the acquisition and asset management of opportunistic and value-added real estate. Equastone manages investment capital on behalf of Equastone Real Estate Funds, which are private equity funds for high net-worth and institutional investors. For more information about Equastone, call Mykel Sprinkles at (858) 812-3261 or visit www.equastone.com.

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