For Denver Investors Who Want Commercial Real Estate That Outperforms
3595 S Teller Street: Office to Multifamily Conversion in the Denver Area, Targeting a 22.8% Net Investor IRR
A vacant 1981 office tower in Lakewood, 15 minutes from downtown Denver, converting into 48 income-producing apartments.
Four questions. About two minutes.
↓ Start here. Four questions
Question 1 / 4
Which of these describes you?
Most real estate investments ask you to trust a projection on paper. A pitch deck, a rendering, a fund manager you'll never meet, holding your capital until an exit that may or may not happen on schedule.
You've probably heard a version of this pitch before. Strong sponsor, great market, attractive returns. It sounds the same right up until the distributions don't show up on time.
Here's what's different: it's a real, physical building you can drive to and walk through today. Talus Properties acquired it at roughly $66 per square foot, well below the cost of building new, because the market hadn't priced in what a vacant office tower could become.
The sponsor's own capital sits pari passu with yours, exceeds half the equity stack, and takes the first loss if the project underperforms. That's the actual capital structure, not a marketing line.



Talus runs the entire process in-house: acquire below cost, convert the space, lease it up, manage it. The 1981 office building becomes 48 one-bedroom units, split evenly between long-term rental (Lakewood's medical, university, and commuter base) and short-term rental (mountain-bound and medical-tourism demand). Two income streams from one physical asset.
President Chris Robbins has more than 25 years in construction and development, holds a Class-A General Contractor's License, and has developed or repositioned more than two million square feet. That license is what lets Talus convert this building in-house instead of marking up a third-party contractor's fee.
Track Record
Talus has converted underused buildings into leased, cash-flowing assets before. Three prior projects, two exited and one still held.

- 2.25x equity multiple
- 37 suites, vacant to fully leased
- Exited 2014

- 4.08x equity multiple
- 14 suites, 40% to full occupancy
- Exited 2016

- 5.9x equity multiple
- 94 units, mixed/underperforming to fully occupied
- Currently owned, held since 2017
Ask for the full return model behind this sample position, the downside case, and a walkthrough of the property, not just the pitch.
A 15-minute call to confirm fit, then a property walkthrough if you want one.