By Margaret Jackson / NewsBreak Denver
(Boulder, Colo.) Evermore Partners has acquired a 33,296-square-foot office/flex building at 6707 Winchester Circle in Boulder.
“The acquisition of this property is another great step for our company, and its acquisition goals,” Evermore Founder and CEO Seth Wolkov said. “As long-term believers in the Boulder area, we’re confident that this type of product will have enduring demand and relevancy. The combination of modern office layout, recently built life-science lab space, and dock-door-equipped distribution space will appeal to many tenants over time and provide good downside protection.
The Evermore team has acquired more than $1 billion worth of assets through multiple economic cycles in all product types. It has specific experience with value-add and distressed and opportunistic investing.
The company’s goal of acquiring a $250 million real estate portfolio in the Rocky Mountain Region within five years will be accomplished with assets valued at between $5 million and $50 million.
Evermore focuses on markets located at the intersection of “Eds, Meds and Technology” that continue to experience above-average net migration, wage and employment growth, helping to drive investment returns. The company seeks double-digit total returns generated from a combination of current cash yield and capital appreciation.