NAI Affinity Announces Sale of 44.1+/- Acres at Encore to the Archdiocese of Denver for a Private School

NAI Affinity
May 7, 2024

Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, today announced the sale of a 44.1-acre parcel of land in Johnstown, Colo., to the Archdiocese of Denver for $7.7 million. Located at Colorado Boulevard and Highway 34, plans call for the construction of a new 450-student Catholic high school along with a chapel, athletic field, and gymnasium. The school will be ideally situated to serve students from the surrounding communities in Northern Colorado.

Photo: Aerial of Encore, Johnstown, Colorado.

This property was part of an approximately 190-acre parcel purchased in June 2021 by a Caliber-sponsored single asset syndication, Encore FundCo, LLC, for $7.67 million. Since that time, pre-development work has been conducted on the land. Construction on the remaining portion of the larger parcel is expected to begin by mid-2024 and include multifamily, retail, and industrial development. This area is part of Caliber’s Johnstown Development, an approximately 750-acre master-planned, mixed-use development project.

“This transaction is another meaningful milestone in the development of a vibrant Johnstown community,” said Roy Bade, Chief Development Officer of Caliber. “We are seeing an acceleration in development activity in Northern Colorado, which continues to attract increased investment, new commerce, and more people. Caliber was early to recognize the emerging growth in this area and we continue to leverage these investment opportunities to optimize returns for our investors.”

Ryan Schaefer, Jake Hallauer, CCIM, and Lauren Larsen of NAI Affinity expertly represented the Seller, the publicly traded Caliber Companies, for this transaction.

Encore Sale 05.07 - NAI Affinity Announces Sale of 44.1+/- Acres at Encore to the Archdiocese of Denver for a Private School - NAI Affinity

Deals, such as this one, which bring an excellent asset to the community are especially fulfilling. Commenting on the transaction, Ryan Schaefer, CEO of NAI Affinity, said “This private Catholic high school is going to be a wonderful addition to the Encore master-planned community, the Town of Johnstown, and Northern Colorado as a whole. Similar to patients coming to Medical Center of the Rockies or customers visiting SCHEELS, students and their families will travel from around the region to be here, solidifying Encore as the next great place to be in Northern Colorado. Congratulations on this exciting milestone to Caliber, Johnstown, the Archdiocese of Denver, and all the local church leaders, donors, and parishioners who made this possible!” NAI Affinity is appreciative of all parties involved in the transaction for their contributions to the successful sale.

This transaction, which was executed in April, is the fourth property sale completed by Caliber and its Managed Funds in the Northern Colorado area since the end of 2023. The firm previously announced the sales of South Ridge, and Areas B and C of The Ridge development, a total of approximately 120 acres for nearly $20 million.

NAI Affinity is the exclusive listing agent for Encore and is excited for all that is to come within the premier master-planned community. For more information about this transaction or to inquire about other commercial real estate opportunities in Colorado, please contact Ryan Schaefer at (970) 663-3150.

More About NAI Affinity: NAI Affinity is a Northern Colorado based commercial real estate brokerage firm serving clients throughout the region and the state of Colorado.  As a full-service firm, NAI Affinity provides focused and expert commercial real estate assistance through a wide range of services including commercial, land and investment brokerage and consulting.  NAI Affinity has decades of experience in commercial real estate with various property types, transaction structures, and in numerous municipalities. Their clients have the opportunity to leverage this experience to maximize their results.

Additional Articles: Catholic high school coming to Johnstown (BizWest)

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