8-K

UNITED STATES

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): August 25, 2004

AmeriVest Properties Inc.

(Exact name of small business issuer as specified in its charter)

Maryland	1-14462	84-1240264
(State or other jurisdiction of	(Commission File No.)	(I.R.S. Employer Identification No.)
incorporation or organization)

1780 South Bellaire Street Suite 100, Denver, Colorado 80222

(Address of principal executive offices)

(303) 297-1800

(Registrant’s telephone number)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8–K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act

oSoliciting material pursuant to Rule 14a–12 under the Exchange Act

oPre–commencement communications pursuant to Rule 14d–2(b) under the Exchange Act

oPre–commencement communications pursuant to Rule 13e–4(c) under the Exchange Act

ITEM 1.01             ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

See discussion in Item 2.03.

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF–BALANCE SHEET ARRANGEMENT OF A REGISTRANT

              On August 25, 2004, AmeriVest Properties Inc. (“AmeriVest”) closed a $21 million loan refinancing of its Camelback Lakes property.  A copy of AmeriVest’s press release is included as an exhibit to this report under Item 9.01(c) and is included in this Item by reference.

ITEM 9.01             FINANCIAL STATEMENTS AND EXHIBITS

(c)           Exhibits.

Exhibit 99.1            Press release dated August 31, 2004 announcing the closing of the loan refinancing.

2

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.
Dated: August 31, 2004
	By:	/s/ Kathryn L. Hale
		Kathryn L. Hale
		Chief Financial Officer

3

EX-99.1

Exhibit 99.1

	NEWS RELEASE
CONTACT:
Kim P. Boswood	1780 South Bellaire Street	Listed: AMEX
Investor Relations (ext. 118)	Suite 100	Trading Symbol: AMV
kim@amvproperties.com	Denver, CO 80222	www.amvproperties.com
	Phone: (303) 297-1800
	Fax: (303) 296-7353

AMERIVEST PROPERTIES ANNOUNCES CLOSING OF $21 MILLION LOAN
REFINANCING OF CAMELBACK LAKES PROPERTY

                DENVER, CO, August 31, 2004 — AmeriVest Properties Inc. (AMEX: AMV) announced today that it has completed the refinancing of its Camelback Lakes property in Phoenix, Arizona. This $21,000,000 indebtedness consists of a $16,000,000 mortgage with Allstate Life Insurance Company and a $5,000,000 mortgage with Allstate Life Insurance Company of New York.  The notes bear interest at a fixed rate of 5.82% through September 5, 2014.  Monthly principal plus interest payments of $133,002, payable in arrears, commence in October of 2004.  The loan agreements contain prepayment provisions available beginning September 5, 2008 at the greater of one percent of the prepaid amount or a yield maintenance calculation. The loan agreements contain acceleration clauses based on late payment or other events of default.  The notes are nonrecourse. The property was previously financed through the company’s Secured Credit Facility with Fleet National Bank, bearing interest at LIBOR plus 225 basis points.  “This transaction reduces our floating rate debt as a percentage of total mortgage debt from 23% at June 30, 2004 to approximately 13% today” noted Charles Knight, President and COO of AmeriVest.  “Although our interest costs will increase slightly, we believe that the reduction in exposure to interest rate risk is appropriate given our long-term holding strategy for this high quality building.  We are also pleased to continue our relationship with Allstate, which provided long-term financing for our Financial Plaza property in the Phoenix market.”

Company Information

AmeriVest Properties Inc., with its principal office in Denver, Colorado, provides Smart Space for Small BusinessSM in Denver, Phoenix, Dallas, and Indianapolis through the acquisition, repositioning and operation of multi-tenant office buildings in those markets.  To receive AmeriVest’s latest news and information, visit our website at www.amvproperties.com.

In addition to historical information, this press release contains forward-looking statements and information under the federal securities laws.  These statements are based on expectations, estimates and projections about the industry and markets in which AmeriVest operates, management’s beliefs and assumptions made by management.  While AmeriVest management believes the assumptions underlying its forward-looking statements and information are reasonable, such information is necessarily subject to uncertainties and may involve certain risks, many of which are difficult to predict and are beyond management’s control.  As such, these statements and information are not guarantees of future performance, and actual operating results may differ materially from what is expressed or forecasted in this press release.  In particular, the factors that could cause actual operating results to

differ materially include, without limitation, continued qualification as a real estate investment trust, the effects of general and local economic and market conditions, competition, regulatory changes, the ability to enter into new leases or renew leases on favorable terms, dependence on tenants’ financial condition, the uncertainties of real estate development and acquisition activity, development and construction costs, insurance risks, the costs and availability of financing, potential liability relating to environmental matters and liquidity of real estate investments and other risks and uncertainties detailed in AmeriVest’s 2003 Annual Report on Form 10-KSB and from time to time in the Company’s filings with the Securities and Exchange Commission.