DENVER BUSINESS JOURNAL – Starwood Capital Group has purchased the Belmar mixed-use center in Lakewood for close to $300 million.
Connecticut-based Starwood said its Starwood Global Opportunity Fund X bought the 1.1 million square-foot center, which was built 11 years ago.
The seller was GF Properties Group LLC, which is a wholly owned subsidiary of the Southern Ute Indian Tribe. The deal was brokered by Tim Richey, Mike Winn and Brad Lyons of CBRE Group Inc.
The sales prices was not disclosed by Starwood, but sources familiar with the deal confirmed that the sale was around $300 million, which would make it the Denver area’s largest real estate transaction by dollar amount in recent memory.
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