California-based real estate investment firm JB Matteson has acquired Vantage at Loveland, a recently stabilized, Class A apartment community in Loveland, for an undisclosed amount. The acquisition of the property, which will be renamed The Tyler at Loveland, marks JB Matteson’s first in Colorado.
Jason Hornik and Greg Parker of Marcus & Millichap, in association with Institutional Property Advisors’ Texas-based team, brokered the transaction on behalf of the seller. Senior Director William Haass and Director Jonah Aelyon with JLL arranged $40 million in acquisition financing with a life insurance company.
“JB Matteson’s acquisition of Vantage at Loveland is reflective of continued investor demand in Northern Colorado, which has favorable fundamentals including a 4.80% stabilized market vacancy and continued strong absorption,” said Haass. “We observed several lenders offering favorable financing terms, including some that had not previously closed deals in Northern Colorado.”
Completed in 2024, Vantage at Loveland consists of 11 buildings, including a leasing office/clubhouse. Units are available in studio, one-, two- and three-bedroom layouts with an average unit size of 849 square feet. Residents also have access to a variety of amenities, including a resort-style pool with a tanning ledge and hot tub, business center, coffee bar, poolside grill stations, 24-hour fitness facility and yoga studio, bark park with pet spa, and reserved and detached garages. The property is currently 92% occupied.
“Vantage at Loveland represents an attractive entry into the Colorado market for JB Matteson,” said Sam Blake, vice president of investments. “Loveland’s sustained population and job growth are attractive for multifamily investment. We are excited to rebrand the property as The Tyler at Loveland and add it to our growing portfolio as we continue to expand in the Mountain West.”
Tom Fischer, director of capital markets, added: “The addition of Vantage at Loveland to our portfolio continues JB Matteson’s investment strategy of acquiring institutional quality multifamily projects in our target markets of California, Oregon, Washington, Utah, and Colorado.”
