The Walton Group of Companies said it has acquired 100 acres of land in the Fort Collins-Loveland Metropolitan Statistical Area of Colorado last week. Terms were not disclosed.

The property, known as Mountain View, is located less than one mile north of the Town of Berthoud, has convenient access to the Highway 287/County Rd 15 Interchange and is 8 minutes from Downtown Loveland, Colorado.

This latest purchase is the private land asset management group’s eleventh acquisition in Colorado since entering the market in 2015. Walton currently manages more than 2,500 acres in the region.

According to Jennifer Ruby, Walton’s General Manager for Colorado, the town of Berthoud has experienced rapid growth over the last year, in which single-family home starts have seen a YOY increase of 194% with an upsurge of 22% in new home prices. “Berthoud is one of the hottest submarkets in the region for new-home construction right now. It is ideally located in close proximity to multiple employment hubs such as Boulder, Fort Collins and Greeley, and easily accessible to Interstate 25 for commuters,” said Ruby. “The area has a very limited supply of existing housing stock, which should keep price appreciation strong as the area continues to expand.”

Mountain View currently sits within the Berthoud Growth Management/Boundary Area, and the Town of Berthoud is keen to annex the property. “Our vision is to annex the property and rezone it for development, and we are very excited to move this project forward with the Town of Berthoud,” said Ruby.

This article originally appeared on Builder Online.