Former Denver Mayor Hancock is now a real estate investor

Driving the news: The three-term mayor's first deal is a Five Points building, purchased from a company that previously did significant work with the city, Denver Business Journal reports.

• Earlier this month, Hancock bought the 7,600-square-foot historic building at 2413 N. Washington St, known as the Triangle Building.
• Hancock, his fiancée and three silent partners paid just over $1.4 million.

What he's saying: "Real estate is still one of the more sure investments you can make," Hancock told the publication. "We're going to continue to look and speculate and create opportunities with partners, and hopefully continue to expand."

Between the lines: The estate of Carl Bourgeois sold the property to Hancock and associates, and provided seller financing.

• Bourgeois was a developer who worked to preserve the historically Black Five Points neighborhood. He died in 2022, and his daughters control the estate.
• His company, Civil Technology, did work on the Denver airport, Central Park redevelopment and the Webb Municipal Office.

What we're watching: Bourgeois bought the former icehouse in 1989 and converted it to office space. Hancock plans to renovate again to include a co-working space, cafe and outdoor garden.

• Hancock told the Business Journal he hopes to invest in more Five Points properties. "Once you get the bug and try to figure out how to do these things, the key would be to keep growing and hopefully amassing a nice portfolio," he said.