LoDo parking lot eyed for Unico development hits market instead

BOULDER — Unico Investment Group LLC, a Seattle-based real estate investment firm, has entered into an agreement to sell off a major portfolio of properties in Colorado and Washington, including 11 buildings in Boulder’s Pearl East business park. The 1.8-million-square-foot portfolio, known as Unico Partners I, includes 27 buildings across the greater Denver and Seattle metro areas. The price was $710 million. The buyer is Goldman Sachs-affiliated Broad Street Principal Investments LLC. Jason Flynn and Paul Nelson from Eastdil Secured represented Unico in the sale. “Unico will retain a stake in the portfolio and will continue to operate and manage the portfolio on behalf of the new partnership,” according to a company news release. “The transaction represents the successful conclusion of Unico’s first institutional discretionary fund Unico Partners I, which closed in 2014 after raising $265 million in equity from U.S. and Canadian institutional investors.” Unico’s real estate holdings at its 31-acre, 11-buildings Pearl East campus total more than 450,000 square feet. “We look forward to working with Goldman Sachs to fully complete the property repositions and new development opportunities still embedded within the portfolio,” Unico president Jonas Sylvester said in a prepared statement. “We are excited to continue our commitment to our tenants and our communities for many years to come.”

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