Pathfinder Turns 1115 Grant Street Mansion Around
Investor interest in Denver makes it a good time to sell, according to Pathfinder Partners senior managing director Lorne Polger, snapped near Cabo with a deep-sea catch. Recently Pathfinder sold the 20k SF Grant Street Mansion at 1115 Grant St in Capitol Hill, an historic property that has 31 office suites (in the main building and a carriage house). The property was acquired by Unbridled Holdings of Denver.
Lorne says Pathfinder--a SoCal-based opportunistic investor--bought Grant Street (pictured here in front of what can only be described as so-blue-how-can-they-not-be-fake skies) in December 2011 through a trustee’s foreclosure sale, when the mansion was only 50% occupied. It was attracted to the neighborhood known for historic charm and cosmopolitan ambiance. The company spent $200k to convert several unused suites to rentable offices, improve the landscaping and deal with deferred maintenance. It's now 95% occupied.