DENVER — Auction bids for the old VA hospital property closed Tuesday.
The property, which is just over eight acres in east Denver's Hale neighborhood, was put up for auction on June 20.
The highest bid submitted for the property was $41.25 million, according to the GSA's website.
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Five bidders total submitted offers on the property. The initial offering was submitted on June 23 for $15 million. The bidding war began heating up 10 days after the initial offer, when a second bid was placed for $15.25 million.
After that, bids began going up by $250,000-$1,000,000 per bid. While five people submitted bids, the race was really only between bidders 1, 3 and 4.
By the end of July 20 - one month from the auction's close - bidder number 3 offered $33.5 million. The next day, bidder number 4 upped the offer to $33.75 million.
Bidders 3 and 4 went back and forth for a couple of days, upping each's offers. Bidder 1's final offer was placed on Aug. 1 for $38 million. The next day, however, bidder 3 came in with a $39 million offer.
Bidders 3 and 4 then went back and forth again for the next week, until number 4's offer of $41.25 million was not beaten.
The names of the bidders were not disclosed and it's unknown what will become of the property.
The area west of the VA property has seen significant change in the last few years. The former University Hospital campus was redeveloped and is part of the 9th and Colorado project.
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