Encore HoldCo, LLC, a company connected with CaliberCos, Inc. and WESTAR Development, LLC, purchased land from Miracle on 34, LLC. The purchase included about 133 acres of land near the 2534 master planned community in Johnstown, Colorado.
With this, Caliber adds to it's land holdings in Johnstown. This will be part of a 300± acre mixed-use, master planned community. In addition, this community will include sites for commercial, entertainment, education, multi-family, and single family residential.
Caliber expects to break ground in Q1 2022.
“We see Encore as being a natural extension of the nearby development activity at 2534 and Centerra. In addition, it adds to the 380 acres in our Northern Colorado holdings,” said Roy Bade, Chief Development Officer of Caliber.
In addition, Ryan Schaefer, CEO of NAI Affinity and the listing agent for Caliber, said “initial demand is great” and “end users/developers have committed to multiple sites.”
For an in-depth look at the proposed sites and uses, plus sizing and pricing, you can review the marketing brochure here.
Transaction brokers include Jake Hallauer, CCIM and Ryan Schaefer of NAI Affinity.
BizWest also covered the acquisition.