Pinnacle Announces Sale of 44,000 SF LifeGate Church Property in Denver
Tom helped Pastor Doug Lasit with the Pearl Church lease Building D of the Kennedy Center back in February, 2014. With Tom’s recommendations for a designer and construction company, tPC completed a wonderful church retro-fit on the first floor of this flex building. As the Pearl Church was gifted the former City Point property in May 2019, they vacated the 10200 E. Girard Ave. property and relocated to 200 S. University Blvd. Tom learned of the LifeGate Church requirement. He teamed up with Connor Knutson, PREA to co-represent LifeGate.
We were able to convince ownership of the Kennedy Center to carve out the Building D portion of the office park so our client could own the property rather than lease to avoid paying property taxes. We helped negotiate a sublease with the Pearl Church for their remaining term. Further, we recommended a creative and talented real estate attorney to our client to negotiate all the complex title issues involved with a lotsplit of the property along with a parking easement agreement. Also, we helped negotiate a complicated Inspection Objection Resolution with ownership. Finally, we recommended an experienced lender that specializes in church properties to finance the transaction. LifeGate closed on 11/2/20 for $4,900,000.