254-Unit Luxury Apartment Near Downtown Loveland Sells for $71M
According to CBRE, an affiliate of Abacus Capital Group has sold a 254-unit luxury apartment community in Johnstown. According to Larimer County property records, The Gateway at 2534 sold for $71 million, or $279,528 per unit.
Built in 2015, the 10-building property features a mix of one-, two-, and three-bedroom units averaging 965 square feet. Community amenities include a state-of-the-art fitness facility, a bocce ball courtyard, an exterior TV with a fireplace, a hammock garden, a game room, a Jacuzzi, a tanning deck and a resort-style heated saltwater pool.
The Gateway at 2534 sits southeast of the Highway 34 and Interstate 25 intersection, just five miles east of downtown Loveland. It is surrounded by retail and entertainment in the adjacent 3,000-acre Centerra master planned community and offers convenient access to the area’s major employment drivers.
“Apartment fundamentals in the rapidly growing northern Colorado submarket of Loveland have proven extremely resilient throughout the pandemic, proof that this location will continue to perform at a high level well into the future,” said Mr. Woodward.