Schuman Cos. acquired the north parcel of Loveland Outlets, a Loveland, Colorado shopping center called “besieged” and “essentially vacant,” for $15 million from an undisclosed seller. Schuman will redevelop the 169K SF property into a mixed-use complex called Loveland Yards, with retail, offices and flexible condos available for sale and rental. Condos are priced from $165 to $300 per SF.
Courtesy of Buis Photos
Loveland, Colorado’s Loveland Outlets – soon to be Loveland Yards.
The property, located just off the intersection of I-25 and Highway 34 in northern Colorado, is zoned for commercial, office and light industrial use. Schuman plans to close on an additional southern parcel at a later date.
SALES
35 Inverness Drive East, a 65K SF office and industrial building in Englewood that remains fully leased to manufacturer Telodyne Technologies, being sold for an undisclosed amount. A spokesperson for CBRE, which represented the seller, declined to name either party to the agreement.
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California-based Amplify Development Co. has sold University Lofts, a 36-unit mixed-use student housing property adjacent to the University of Denver campus, to an undisclosed buyer for $24.5 million.
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3330 Ames Street in Wheat Ridge, a 22-unit building built in 1958, sold for $4.47 million.
CONSTRUCTION AND DEVELOPMENT
Capital Square announced the start of construction on Steamboat Basecamp in Steamboat Springs, a 119-unit, mixed-use, multi-family property with 8K SF of retail space.
FUNDING
Greystone provided a $30.4 million Fannie Mae DUS loan to refinance Parkview Terrace Apartments, a 206-unit multifamily property in Thornton.