PHOENIX--(BUSINESS WIRE)--Walton Global Holdings Ltd. and its affiliates (collectively Walton), a real estate investment and land asset company with US$3.8 billion under management and administration, has acquired the 245-acre Lee Farms property located at 4300 Wilson Ave. in Loveland, Colo.
The pre-developed land is slated for a single-family residential master planned community of approximately 900 units, offering a variety of sizes and types of homesites. The parcel is located within close proximity to existing and actively selling new-home communities of Meadowbrook Ridge, Mariana Butte and The Lakes at Centerra.
The property was acquired from The True Life Companies and the Lee Family.
Located 14 minutes from Fort Collins, Colo., home to Colorado State University, the Loveland region boasts a strong economy featuring dozens of innovative businesses from tech start-ups to Fortune 500 companies, low unemployment, and a steady population growth that is driving demand for residential construction.
Brett Limbaugh, Director of Development Services for the City of Loveland believes this is a good time to take advantage of the current market conditions stating, “We are excited to work with Walton on moving the Lee Farms development forward and seeing additional growth in the market area.”
Concurrent to the purchase of the Lee Farms property, Walton has secured interest from a top publicly-traded homebuilder with plans to begin development of the land in 2020. Negotiations are underway with an Exit Focused Letter of Intent that affords the builder a first right of refusal for a phased procurement of the property. It is anticipated the land will be developed in multiple phases, providing distributions to investors as the builder sells homes.
The Loveland, Colo. land acquisition adds to Walton’s 85,000-acre portfolio located across the United States, providing a scalable land acquisition platform to support homebuilders with just-in-time inventory management. Walton’s approach is an innovative response to secular shifts in the land development industry, which is increasingly challenged to finance acquisition with debt.
Walton recently announced its first Builder Option Land Development fund (the BOLD Fund), that provides homebuilders with a land acquisition opportunity to work alongside an international real estate investment and asset management company for securing a land pipeline with minor upfront capital contribution.
“The benefits of working with national builders through these Exit Focused Agreements by holding land for future development, is opening up tremendous opportunities for Walton in all markets where we research and acquire land,” said Barry Dluzen, Senior Vice President - Land of Walton Global Holdings.
For over 40 years, Walton has researched, planned, and structured pre-development land investments located in the major growth corridors throughout the U.S. and Canada. The evolution of Walton has opened the door to offering new products, like the BOLD Fund, creating new opportunities for investors and homebuilders.
About Walton Global Holdings
Walton Global Holdings is a privately owned, leading global real estate investment, land asset management and administration company that has focused on strategically located land in major growth corridors for over 40 years. The company manages and administers US$3.8 billion of real estate assets in North America, on behalf of its investors and business partners. Walton has more than 106,000 acres of land under ownership, management and administration in the United States and Canada. For more information visit Walton.com.