Unico sells 11-property office portfolio for $710m

Real estate investment and operating firm Unico Investment Group has sold 11 office assets totaling 1.8 million square feet in Seattle and Denver for $710 million, according to media outlets.

Broad Street Principal Investments, an affiliate of Goldman Sachs, was the buyer.

The properties are collectively known as the Unico Partners I portfolio. The portfolio includes 10 creative office assets and one parking garage. The collection of properties is 85 percent leased to more than 190 tenants.

Unico will retain a stake in the portfolio and will continue to operate and manage the portfolio behalf of the new partnership.

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, according to Colorado Real Estate Journal.