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Behringer Preps For Sale

Behringer Preps For Sale
Behringer Harvard is shaping up 1875 Lawerence to ship it out to a new owner.
behringer harvard 1875 lawrence denver repositioning loan renegotiations cbre
In a presentation filed with the SEC, Behringer Harvard states it plans to remarket the 186k SF tower for sale next year. Company officials tell us that a sale won't happen until late 2013 or "more likely" 2014. That’s after it accomplishes a number of things, such as a lobby renovation, converting companies to triple-net leases, possibly leasing retail space, and renegotiating a $15M loan due this month. It’s all part of an effort for “repositioning the property within its market,” the company states. Sounds like a fancy way of saying you may have to take the stairs during construction.
Bisnow (PropManage)