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COLORADO REAL ESTATE JOURNAL
— April 20-May 3, 2016
Larimer & Weld Counties
by Jill Jamieson-Nichols
An affiliate of Inland Real
Estate Acquisitions Inc. bought
two apartment communities
in Fort Collins for $83 million,
according to public records.
Records show Inland paid $43
million, or $204,761 per unit, for
the Miramont Apartments at
4900 Boardwalk Drive and $40
million, or $205,128 per unit, for
the Pinecone apartment commu-
nity at 2212 Vermont Drive. Both
communities were 97 percent
leased, according to Inland Real
Estate.
“We are pleased to have recent-
ly purchased these two high-
quality multifamily properties
that are well located in a prime
market with historically high
occupancy rates,” said Matthew
Tice, senior vice president of
Inland Real Estate Acquisitions,
who facilitated the transactions
on behalf of the buyer. “Mira-
mont and Pinecone apartments
provide residents with desirable
amenities, access to great schools
and excellent proximity to major
employers, including Colorado
State University, Hewlett-Pack-
Miramont is one of two Fort Collins apartment communities acquired
by an Inland Real Estate Acquisitions affiliate.
The Pinecone Apartments consists of 195 units.
by Jill Jamieson-Nichols
A 25,962-square-foot manufac-
turing building on 2.49 acres in
Berthoud sold for $2.29 million,
or $88.39 per sf.
CEM & Associates LLC pur-
chased the building at 1005 N.
Second St. in Berthoud from
Loveland Screw Machine Ltd.,
which operated there until last
September. Blue Heron Specialty
Products, now in Denver, report-
edly will occupy the building.
The company makes parts for
irrigation systems.
Built in 1969, the building was
expanded in 1973 and again the
following year. Loveland Screw
Machine had occupied it since
about 1990.
Realtec-Loveland
brokers
Larry Melton, Bruce Campbell
and Patrick O’Donnell originally
listed the building a year ago,
when Loveland Screw Machine
was still operating there. The
company completed its contracts
and auctioned off its equipment
in September, so, “It really wasn’t
until November 2015 that it
became a building that someone
saw they could move into,” said
Melton.
Mitchell Bennett of Cherry
Creek Properties LLC represent-
ed the buyer in the transaction.
Other News
n
Loveland Commercial LLC
is marking its 20th anniversa-
ry with a name change and a
move to 4,000 square feet at 1712
Topaz Drive in central Loveland,
a building it acquired last year
and renovated.
The company’s new name,
LC
Real Estate Group LLC,
is meant
LC Real Estate Group LLC, formerly Loveland Commercial, just relocated
to a building at 1712 Topaz Drive in Loveland. (See Other News)
