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Anyone remember that condo conversion plan back in 2007?
About one year before the pandemic, in January 2019, Unico Properties sold a large office portfolio to Goldman Sachs. (Unico also retained a small stake.) The deal was worth about $710 million, for 27 properties in Denver and Seattle — including the landmarked and beloved Smith Tower. Then came COVID-19, and those buildings suddenly emptied. Today, many office workers still refuse to return, preferring to work remotely.
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