Kentro Group Acquires 24 Acres in Loveland for Residential Development
Kentro Group, a Denver-based real estate developer offering all aspects of retail real estate, acquisitions, development, finance, leasing and select property management, has acquired ±24 acres of land on two adjacent parcels in Loveland. The developer plans to construct a new residential project on the property.
Located at the southwest corner of Highway 402 and Roosevelt Ave, the pair of parcels sold in separate transactions for a combined $1.6 million.
Kentro Group initially acquired a ±14-acre parcel for $975,000 from Casey Reeves (seller), with Cushman & Wakefield’s Travis Ackerman, executive managing director, representing the seller in the transaction. Following the sale, Kentro Group then sought to acquire an adjacent parcel of ±10 acres from Message of Life Ministries (seller), paying $630,000 for the parcel. Ackerman represented Kentro Group and NAI’s Shames Makovsky represented the seller in the second sale.
According to the company, Kentro Group is excited to expand its residential development program into Northern Colorado with this land assemblage in the desirable Loveland community.
“This area in Loveland has seen strong activity over the last few years. Two key appealing attributes are its central location in Northern Colorado and easy access to I-25 via Highway 402,” said Ackerman.
Travis Ackerman serves as a director for Cushman & Wakefield Commercial Real Estate, specializing in the sale and lease of office, industrial, retail and land in Northern Colorado. Since 2007, Ackerman has been involved in over 500 transactions totaling over $200 million.