Denver-based Woodspear Properties has acquired The Buttes, a 111-unit, three-story multifamily property in Loveland, for $25.5 million.
“The Fort Collins/Loveland metro area has been the one of the fastest-growing economic regions in Colorado over the past decade and Northern Colorado’s diverse mix of industries, which includes manufacturing, high-tech and higher education, helped shield it from some of the most negative economic effects caused by the pandemic,” said Greg Price, senior director of Marcus & Millichap’s Multi Housing Division. Price and Greg Parker, senior associate, represented the seller, Blueline Equity Partners and procured the buyer.
Completed in 1996 on seven acres, The Buttes offers three different floor plans, with one and two bedroom options. Shopping is nearby at the Columbine Shopping Center, and recreational opportunities are close by at the Devil’s Backbone Open Space, Blue Sky Trail, Rimrock Open Space, the Coyote Ridge Natural Area and Boyd Lake State Park. Front Range Community College and Colorado State University are within a short drive. Community amenities include Rocky Mountain views, a clubhouse, business and fitness centers, a lap pool, hot tub, detached garages and a dog park.
Woodspear Properties was formed in 1981 by its general partners John Woodward and Steven Spierer. Woodspear Properties, as a private real estate investment and management company, has since acquired and manages a diversified commercial real estate portfolio consisting of 2,100 apartment units and 20 commercial properties.
Photo courtesy of Marcus & Millichap
