PHOENIX – Walton, a real estate investment and land asset management company with US$3.39 billion under management, has acquired 113 acres in Loveland, Colo. slated for residential development by a top national homebuilder. The property is located at the crossroads of Campion and South Lincoln Avenue.
Walton has entered into a letter of intent with the national homebuilder for the property known as Lincoln, with the entitlement process expected to begin in 2022. The land sale was facilitated by a local Colorado brokerage, Kirschner Company, LLC. Mary Kirschner from the brokerage represented Walton in the transaction.
Located along Highway 287 and Interstate 25, the Lincoln property is a five-minute drive to the City of Loveland, a 25-minute drive from downtown Fort Collins, and 50-minutes away from downtown Denver.
Walton’s Executive Vice President, Barry Dluzen said, “We are very pleased to support new home inventory in the city of Loveland which is seeing continuous growth and has been an attractive area for many home buyers.” He added, “Walton is actively working with national builders in many other growth markets throughout the country where we research and acquire land using a similar exit-focused strategy. Our strategy to hold land for future development has been beneficial for homebuilders and the real estate home market.”
Often referred to as the “Gateway to the Rockies,” Loveland offers countless outdoor activities that include golfing, hiking, biking, and horseback riding in addition to swimming, water skiing, and rafting in the area’s scenic lakes.
Loveland, America’s “Sweetheart City,” presents a fine selection of restaurants, breweries, shops, and art galleries, which are a popular destination spots for young families looking for shopping, dining, and entertainment amenities within their community.
The Loveland land acquisition of Lincoln adds to Walton’s 84,000-acre portfolio of owned or administered land located across the United States, providing a scalable land acquisition platform to support homebuilders with just-in-time inventory management.