DETROIT (AP/WWJ) — Developer and Quicken Loans owner Dan Gilbert says he’s reached a deal to buy the 15-floor headquarters of Compuware in downtown Detroit.

Gilbert’s Bedrock Real Estate Services says it signed the agreement Monday for an undisclosed price.

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“The Compuware Building has served as the nucleus for 21st century Detroit for more than a decade thanks to the vision of Peter Karmanos and the Compuware team’s commitment to transform downtown Detroit into a dynamic, high-tech corridor,” Gilbert said in a press release.

Bedrock says Compuware will remain headquartered in the 1 million-square-foot building.

Private equity firm Thoma Bravo announced a $2.5 billion deal last month to buy Compuware and take the software developer private.

“Selling our headquarters property has always been a key component of our corporate transformation plan as a mechanism to best leverage our assets in achieving sustainable, long-term success for our company,” Compuware CEO Bob Paul said in the release. “I want to stress that this transaction in no way diminishes our current or future commitment to the City of Detroit and its revival.”

Bedrock says it’s collaborating with the health maintenance organization Meridian Health, which is moving its headquarters to the building.

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“The signing of a long-term lease to remain in the building is a clear indication of our commitment to the city. We’re extremely proud of the leading role we have played in Detroit’s ongoing turnaround. Looking forward, we will continue to support the community and invest in the city’s rebirth, including the M1 rail project and other important initiatives,” Paul added.

Bedrock says Meridian will use about 330,000 square feet and Compuware about 130,000 square feet.

Quicken Loans already occupies 300,000 square feet in the building and will add 60,000 square feet. The building also houses offices of the accounting company Plante Moran.

“The Compuware Building is an incredible asset to downtown Detroit and we are pleased to add this beautiful property to Bedrock’s growing real estate portfolio in conjunction with Meridian Health,” Jim Ketai, CEO and co-founding partner of Bedrock Real Estate Services said.

The building opened in 2003 and is considered by many to be the most significant office building built in downtown Detroit in the last several decades.


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