Category Archives: News Releases

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Great Western Oil & Gas Buys Additional Wells And Leasehold Acreage In Wattenberg Field

Company is actively pursuing acquisitions during period of uncertainty in the industry

Denver Great Western Oil & Gas Company, an affiliate of The Broe Group with active operations in the Denver-Julesburg Basin in Colorado, has purchased 14 producing wells and 816 net leasehold acres in the Wattenberg Field from an undisclosed seller. The purchase closed January 16. The price was not disclosed.

The tracts are adjacent to existing Great Western Oil & Gas land in Weld County and bolster the company’s position among the top 10 oil & gas producers in Colorado, where the company continues to look for additional acquisitions of wells, acreage and non-consenting working interests.

“This acquisition is a great example of our strategy to expand our holdings in the Wattenberg Field, particularly during the current period of variability in the industry, and achieve economies of scale throughout our operations in Northern Colorado. We continue to search for additional suitable wells and leasehold acreage located near our current operating locations,” said Rich Frommer, President and CEO of Great Western Oil & Gas.

About Great Western Oil & Gas Company, LLC
Great Western Oil & Gas Company, LLC (GWOG) is a Denver-based independent exploration and production company with active operations in the Denver-Julesburg Basin in Colorado. GWOG is ranked among the top 10 largest producers in Wattenberg Field in Colorado. Learn more or contact us at www.gwogco.com.

About The Broe Group
The Broe Group and its affiliates, based in Denver, Colorado, employ more than 1,000 people and manage 29 million square feet of real estate throughout North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations throughout North America, including the Great Western Railway. Its energy affiliate, Great Western Oil & Gas Company, is a top 100 driller in the U.S. For more information, see www.broe.com.

 

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Broe family foundation establishes fund for Windsor athletics and recreation scholarships

Broe Group’s transportation, energy and real estate affiliates all have operations in the Northern Colorado community

Denver – The Broe Family Foundation is donating $25,000 to the Town of Windsor for the creation of The Broe Family Foundation Windsor Scholarship Fund, a program that subsidizes fees for qualifying children to participate in town recreation services. The program is being developed and will be available for the summer season.

“The Broe family and all of our colleagues are very pleased to be able to offer these scholarships to our neighbors in Windsor who require a little help accessing the worthwhile and fun sports, arts and other activities offered by the town. We continue to be committed to the region and believe that commitment goes beyond the jobs created and taxes generated to supporting those who really need assistance,” said Sean Broe of The Broe Group.

The Windsor Parks, Recreation & Culture Department is administering the reduced rate scholarship program, which is also funded by donations from multiple sources including the Windsor Town Board and United Way of Weld County. Scholarships are available to Windsor residents meeting guidelines for income and household size. Each child can qualify for up to $225 per year. Last year, children from 50 families received scholarships under the program.

“The Town of Windsor truly appreciates The Broe Family Foundation and the support companies affiliated with the Broe family continue to provide to the citizens of Windsor. These scholarships will enable dozens of children to participate in our great athletic and recreation programs every year,” said Kelly Arnold, Town Manager.

The Town of Windsor and The Broe Family Foundation will establish the endowment fund and a board to administer the expanded program under the name The Broe Family Foundation Windsor Scholarship Fund. The board is expected to include Melissa Chew, Director, Windsor Parks, Recreation & Culture Department; Eric Creed, Senior Surface Landman at Great Western Oil & Gas Company, and Jenni Stanford, Director of Industrial Development at Great Western Development Company.

“The Fund will be ready so that qualifying children of Windsor residents can participate in the activities of their choosing for the summer season. The relationship with the Broe family and the Broe Group of companies has been a model for our public-private efforts and we look forward to working with them in the future,” said Chew.

Programs offered through the Windsor Parks, Recreation, & Culture Department attract over 70,000 participants annually in sports like baseball, basketball, football, soccer, lacrosse, softball, fencing, cheerleading, tennis and golf, plus dozens of arts, music and dance classes.

 

Note to Editors: For more on the current Windsor Parks, Recreation, & Culture Department programs please visit www.windsorgov.com/Link .

About The Broe Group

Headquartered in Denver, Colo., Pat Broe founded what would become his namesake company in 1972. Today, the managed affiliates of The Broe Group employ nearly 1,000 people and own or control a multi-billion dollar portfolio of real estate, railroads, energy (oil & gas) and tech investments. Its transportation affiliate, OmniTRAX, Inc., is one of the largest privately held railroad companies in North America and its energy affiliate, Great Western Oil & Gas Company, LLC, operates a significant oil and gas drilling program. Learn more or contact us at www.broe.com.

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The Broe Real Estate Group Sells Denver’s Trinity Place Office Building to Velocis Partners

Denver – The Broe Real Estate Group, a leading owner and manager of commercial real estate across the US, has sold Trinity Place, a 17-story office building in downtown Denver, to Velocis Partners of Dallas. The purchase closed December 15, 2014. The price was not disclosed.

Located at 1801 Broadway, Trinity Place is a 195,753 square foot building in the Midtown East micro-market of Denver’s dynamic central business district. The office is currently 89% leased to 40 tenants including Broe affiliate Great Western Oil & Gas, Forrester Oil & Gas, Bank of Colorado and Trinity Grille, as well as other energy, professional services and legal service firms. Tenants are within walking distance to Brown Palace Hotel, Sixteenth Street Mall and Restaurant Row and have quick access to Denver’s Light Rail, the Downtown Circular and other major thoroughfares.

“The stabilization of Trinity Place prior to the sale resulted from an aggressive capital improvement plan, rapidly improving downtown market fundamentals and a niche focus on energy and professional services firms. Velocis is acquiring a quality asset with a stable roster of tenants and continued growth opportunities as leases roll to higher market rates,” said Scott Gibler, Managing Director of The Broe real Estate Group.

Trinity Place was built in 1981, acquired by Broe in October 2006 from Equity Office Properties and renovated in 2012.  Last year Broe sold nearby 1700 Broadway, a 400,000 square foot, 23-story office building, to Canadian REIT Artis in partnership with MDC realty. Mary Sullivan and John Jugl of Holliday Fenoglio Fowler, L.P. marketed both properties exclusively.

“Trinity Place caters to small-to mid-sized tenants, offering a boutique atmosphere in a traditional and distinctive building,” said Mike Lewis, Velocis principal. “Additionally, the building’s proximity to the city’s popular attractions as well as a multitude of thriving downtown businesses neighboring the asset provides tenants a truly walkable lifestyle.”

Velocis has been active in real estate investment since 2011, purchasing 15 assets located in markets in Texas, Colorado, Georgia, Florida and North Carolina. Velocis is led by a team of five seasoned principals who are directly responsible for the acquisition, asset management and disposition of assets. In addition to Lewis, principals include Fred Hamm, Jim Yoder, Paul Smith and David Seifert.

About The Broe Real Estate Group
The Broe Real Estate Group acquires, develops and manages commercial real estate assets. Affiliated companies own and manage office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. For more than 40 years, the company has operated a comprehensive real estate platform to provide complete solutions to maximize return on investment. Additional information is available at www.broerealestate.com.

About The Broe Group
The Broe Group, based in Denver, Colorado, employs more than 2,000 people and manages 29 million square feet of real estate throughout North America. Its transportation affiliate, OmniTRAX, Inc., is a leading transportation services firm with railroad, port and terminal operations throughout North America, including the Great Western Railway. Its Great Western Oil & Gas Company is a top 100 driller in the U.S. For more information, see www.broe.com.

 

About Velocis, LLC
Velocis consists of real estate funds and Velocis Advisors, LLC. Velocis is active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Velocis Advisors, LLC provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at http://velocis.com/.

 

Past performance does not predict future results. This article does not constitute an offer to sell, or a solicitation of any offer to buy any securities of the Fund, nor is it intended to be a description of all material factors an investor should consider before investing in the Fund.  Prior to making an investment decision, prospective investors should carefully review the offering documents of the Fund for a description of material factors to consider, including risk factors and investor suitability requirements.

 

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OmniTRAX Affiliate Acquires Sand Springs Railway Company

Move gives OmniTRAX first venture in Oklahoma
OmniTRAX Logistics Services leases transload facility to support growth

DENVER – Sand Springs Railway Company is being acquired by Sand Springs Holdings, LLC, a managed affiliate of OmniTRAX, Inc., one of the largest privately held rail service companies in North America. The Sand Springs Railway, which runs freight service between Sand Springs and Tulsa, OK on 32 miles of track, will commence operations no later than July 31, 2014. Terms were not disclosed.

The Sand Springs Railway has direct connections with Union Pacific, BNSF and South Kansas Oklahoma Railroad. Traffic handled includes steel, pulpboard, scrap iron, scrap paper, petroleum products, plastics and lumber. Key customers of Sand Springs Railway Company include Yaffe Metals, Baker Petrolite, Webco Industries and Ranger Steel.

“We are excited to be in Oklahoma and involved with a market that shows such great potential for growth. The Sand Springs Railway has a great customer base and we are committed to providing the resources to quickly act on new opportunities there,” said Kevin Shuba, CEO of OmniTRAX.

As part of the deal, OmniTRAX Logistics Services, the company’s transloading unit, is leasing 100,000 sq. ft. of covered warehouse space with heavy lift equipment to serve steel and building products shippers throughout the greater Tulsa area and wider Oklahoma markets.

Note to Editors: Photos of the Sand Springs Railway Company are available.

About OmniTRAX

As one of North America’s largest private railroad and transportation management companies, OmniTRAX’s core capabilities range from providing management services to railroad and port services and to intermodal and industrial switching operations. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at www.omnitrax.com.

About Sand Springs Railway Company
The Sand Springs Railway Company is a class III railroad operating freight rail service between Sand Springs and Tulsa over a 32-mile route. The company hauls steel, pulp, scrap iron, scrap paper, petroleum products, plastic, and lumber. It interchanges with the Union Pacific Railroad, BNSF Railway and the South Kansas and Oklahoma Railroad.