8-K

                       SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



       Date of Report (Date of earliest event reported): November 19, 2001



                            AmeriVest Properties Inc.
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)



         Maryland                     1-14462                     84-1240264
         --------                     -------                     ----------
(State or other jurisdiction     (Commission File               (IRS Employer
  of incorporation)                   Number)                Identification No.)


          1780 South Bellaire Street, Suite 515, Denver, Colorado 80222
          -------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)


Registrant's telephone number, including area code: (303) 297-1800




Item 2. Acquisition or Disposition of Assets

Purchase of Metropolitan Phoenix Office Building. On November 19, 2001, we
completed the acquisition of the Arrowhead Fountains Office Building (the
"Acquired Building"). The Acquired Building is located in suburban Phoenix,
Arizona and contains approximately 96,000 net rentable square feet and is
located on approximately 5 acres of land. The aggregate purchase price for the
Acquired Building was $12,750,000, which was paid by the assumption of the
mortgage loan from Nationwide Life Insurance Company (the "Nationwide Life
Insurance Company Loan") with a principal balance of $9,300,000 and the balance
from a portion of the proceeds of our late July 2001 public offering.

The Acquired Building was purchased from Arrowhead Fountains Partners, LLC (the
"Seller"), an unrelated third party. The purchase price of the Acquired Building
was determined through negotiations between the Seller and us.

The Nationwide Life Insurance Company Loan bears interest at 1-month LIBOR plus
190 basis points and matures on December 5, 2003.

The Acquired Building will be managed by Sheridan Realty Advisors, LLC under the
terms of the Advisory Agreement between Sheridan Realty Advisors, LLC and us
dated December 22, 1999 and revised and restated as of March 12, 2001.

Additional information concerning this transaction and the Acquired Building is
contained in our press release dated November 20, 2001, a copy of which is
attached to this Current Report on Form 8-K as Exhibit 99.1.

Item 7. Financial Statements And Exhibits.

(a) Financial Statements of Real Estate Properties Acquired:

     The financial statements required by this Item will be filed pursuant to an
     amendment to this Form 8-K.

(b) Unaudited Pro Forma Financial Information:

     The pro forma financial information required by this Item will be filed
     pursuant to an amendment to this Form 8-K.

(c) Exhibits

     Exhibit Number                 Exhibit Title
     --------------                 -------------
         99.1                       Press Release dated November 20, 2001





                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                            AMERIVEST PROPERTIES INC.


November 20, 2001
                                            By: /s/ D. Scott Ikenberry
                                            ------------------------------------
                                            D. Scott Ikenberry
                                            Chief Financial Officer

EX-99.1

                                                                    Exhibit 99.1


            AMERIVEST PROPERTIES ANNOUNCES FIRST ARIZONA ACQUISITION;
      BUYS ARROWHEAD FOUNTAINS OFFICE BUILDING IN PEORIA FOR $12.75 MILLION

DENVER, CO, Nov. 20 -- AmeriVest Properties Inc. (AMEX: AMV) announced today
that it has acquired the Arrowhead Fountains Office Building, located in Peoria,
Arizona (Metropolitan Phoenix) for $12,750,000. The Arrowhead Fountains Office
Building contains 96,076 rentable square feet and is 92.6 % leased.

The Arrowhead Fountains Office Building is located immediately adjacent to the
Loop 101 freeway and south of Bell Road in the hub of the Arrowhead Region, one
of the fastest growing areas in Metropolitan Phoenix. The building is part of a
95-acre mixed-use development, adjacent to the Arrowhead Towne Center regional
mall. Major tenants in the building include Charles Schwab, Salomon Smith
Barney, Robert Half International, Dain Rauscher, Wells Fargo Home Mortgage and
Employers Mutual Casualty Co. Only 3.8% of the leases expire in 2002.

Arrowhead Fountains is being purchased at a first year capitalization rate in
excess of 10%. The purchase price of $12.75 million ($132.71 PSF) is being paid
with $3.4 million in cash plus the assumption of the existing mortgage of $9.3
million bearing interest at a floating rate of LIBOR plus 190 basis points,
maturing December 5, 2003.

William Atkins, chairman and CEO of AmeriVest, said, "This is the initial
acquisition to be funded from the proceeds of AmeriVest's follow-on common stock
offering which was completed in late July 2001. It is also our first property in
Arizona, where we have identified the Phoenix metro area as one of the targets
for our long-term, multi-property expansion strategy. We look forward to the
contribution this and future acquisitions will make to our funds from
operations."

AmeriVest Properties Inc., with its principal office in Denver, Colorado, owns
22 office properties and is focused on serving small to mid-sized office tenants
in select markets. Its common stock is listed on the American Stock Exchange
under the symbol "AMV."

Certain matters discussed in this release are forward-looking statements that
are subject to risks and uncertainties that could cause actual results to differ
materially from those projected, including the risks and uncertainties of
acquiring, owning, operating and disposing of real estate. Such risks and
uncertainties are disclosed in the Company's past and current filings with the
U.S. Securities and Exchange Commission.




                               ACQUISITION SUMMARY
                       ARROWHEAD FOUNTAINS OFFICE BUILDING

Arrowhead Fountains Office Building is a Class "A" three-story, 96,076 rentable
square foot building on a five-acre site in northwest Metropolitan Phoenix.

Year Built:                 1998

Occupancy:                  92.6%

Capital Improvements:       AmeriVest will improve the property with the small
                            tenant amenities it offers in all its properties,
                            including a common area conference room, and
                            electronic building directory.

Building Description:       Versatile "L" shaped floor plates of 33,000 gross
                            square feet allow for large or small users. The
                            articulated building design provides for visibility
                            and corporate identification from either direction
                            on Loop 101. Steel frame building construction
                            features ribbon windows and spandrel panels with an
                            exterior finish insulating system. The ground floor
                            lobby is finished with natural stone floors, wood
                            trim and coffered ceilings. The systems include: two
                            elevators, automatic sprinklers, zone HVAC and a
                            card reader building access system.

Parking:                    368 surface parking spaces including 126 covered
                            (35%) (4.0 spaces per 1,000 SF)

Purchase Price:             $12,750,000 ($132.71 PSF), all cash subject to the
                            assumption of the existing mortgage of $9,300,000
                            bearing interest at 1-month LIBOR plus 190 bp,
                            maturing December 5, 2003

Closing Date:               November 16, 2001

Average tenant size:        4,156 SF

First Year Cap Rate:        10.0% +

Investment Opportunity:     To acquire the dominant new Class "A" building in
                            one of the fastest-growing submarkets in Phoenix,
                            with minimal short-term rollover and an opportunity
                            to increase the building's occupancy.