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Hines pays $194M for Denver office building

Real estate company Hines bought the U.S. Bank Tower building in Denver's Central Business District for more than $194 million from Ivanhoe Cambridge Inc., the Denver Business Journal reported.

Spokespeople for both parties confirmed the deal that closed Dec. 21, the publication added, citing Denver County public records.

The 26-story property at 950 17th St. offers 500,000 square feet of space, an underground tower garage and one retail garage, according to the Dec. 26 report.

Ivanhoe has owned the property since acquiring it for $139.7 million in 2007, the report added, citing public records.