GTIS Partners makes first QOZ asset in Boulder, Colo., market

GTIS Partners and Southern Land Co. have completed the sale of the office component of Rêve Boulder, a mixed-use community located in a qualified opportunity zone (QOZ) at 30th & Pearl Streets in Boulder, Colo., to Google.

Tom Shapiro, president and CIO at GTIS, said, "We are very proud of this sale as it marks … our first investment in the dynamic Boulder market and our first completed investment in an opportunity zone."

The office space will serve as an extension of Google's Pearl Place Campus, which is located across the street. GTIS and SLC previously announced in March 2021 the sale of the multifamily and retail components of Rêve Boulder for $151.25 million.

The four-story office building totals 124,000 square feet of interior space and more than 6,000 square feet of outdoor terrace space on the fourth floor. The Rêve Boulder project was purposefully planned with a focus on the environment and surrounding community, including the creation of an ex