Loveland Reporter-Herald file photo
This photo from May 2020 shows the building at 4565 Kendall Parkway in east Loveland, which was built as a rehab center but never occupied. The property recently was purchased by an investor.Investor snags foreclosed Loveland medical space for $13M
A Cincinnati-based private investment group recently purchased a previously foreclosed Loveland medical property for $13 million.
The nearly 50,000-square-foot property at 4565 Kendall Parkway was purchased by 4565 Kendall Parkway Holdings, a holding company affiliated with Orchard Holdings Group. The seller was First Merchants Bank.
The bank took possession of the property from MS Loveland after a 2019 foreclosure proceeding. MS Loveland was once registered with the Colorado Secretary of State’s Office to an address in Indiana. That business registration has been delinquent for several years.
The 2020 actual value of the land and improvements on the site was $11,965,000, according to the Larimer County Assessor’s Office.
The structure was built several years ago by Mainstreet Capital Partners as a 70-bed inpatient skilled nursing and rehab facility.
That project never materialized, and Mainstreet appears to have gone under. The company’s website is down, and its phone number is disconnected. The address in Carmel, Indiana, where the company was registered is now home to Heartland Food Products Group.
Big O tires launches annual holiday food drive
Big O Tires of Loveland will launch its 11th annual Holiday Canned Food Drive next week.
The drive, from Nov. 30 through Dec. 23, will benefit the Food Bank for Larimer County.
Anyone interested in donating can take a check (made out to Food Bank for Larimer County), cash or a food donation to the shop at 2480 N. Lincoln Ave. Food donations should be boxed or canned.
As an incentive, people who bring in a donation valued at $25 or more will receive a voucher for a free oil change and tire rotation valued at $39.99, redeemable from Jan. 1 to March 31, 2021.
Business hours are 7:30 a.m. to 6 p.m. Monday through Friday and 7:30 a.m. to 5 p.m. Saturday.
The most wanted food items are: canned meat or tuna, canned fruit, canned soup or stew, peanut butter, canned vegetables, corn, green beans, fruit juice, pasta or macaroni and cheese, and rice.
Woodward closes out fiscal year with higher-than-expected earnings
Aerospace parts manufacturer Woodward Inc. beat analysts’ expectations for the final quarter of its fiscal year despite several months of dire circumstances for air travel.
The Fort Collins-based Woodward posted revenues of $531 million and an adjusted earnings-per-share figure of 89 cents Thursday afternoon, beating Wall Street consensus estimates by $10.11 million and 32 cents, respectively, according to data from finance site Seeking Alpha.
In a statement, CEO Tom Gendron said the company had to realign itself to the new realities of the market it serves due to the pandemic. While commercial air traffic remained low, Woodward partially offset those losses with a relatively strong showing in its defense sales.
However, the company said its industrial segment focusing on wind turbines and natural gas engines suffered from the pandemic and low oil prices.
The company’s fiscal year 2020 was marred with difficulties mainly brought on by the loss of global air traffic that reverberated across the aerospace industry. While it posted net earnings of $254 million for the period, that figure is down significantly from the $314 million in profits it made in the previous fiscal year.
The company was forced to cancel a $6 billion merger of equals with materials maker Hexcel Corp. and laid off or furloughed up to 15% of its staff in the U.S. to conserve cash.
It also removed former chief financial officer Jack Thayer in April and announced plans to move 300 employees from its Loveland offices, which it sold, to either the headquarters in Fort Collins or a newly acquired location in Windsor.
Florida homebuilder buys south Fort Collins lots for $23.57M
Dream Finders Homes, a national homebuilding company, has acquired land slated for 205 future single-family homes in south Fort Collins for $23.57 million.
The Jacksonville, Fla.-based Dream Finders purchased the approximately 34-acre property from a subsidiary owned by Fort Collins developer JD Padilla in a deal that closed Oct. 29, according to Larimer County property records.
Padilla’s subsidiary still controls a portion of land near the intersection of Rosen Drive and South Timberline Road just southeast of the Dream Finders-acquired lots that are platted for homes, along with large portions of land slated for future parks, open space and drainage.
The homes are within the Rennat subdivision, directly north of the intersection of Rosen Drive and Red Willow Drive.
The subdivision, which was annexed by the Fort Collins City Council in 2017, calls for 205 homes split between 151 standalone houses and 54 townhomes. While city records show the project has been approved for development by local officials, it’s slightly scaled down from initial plans last August that called for 215 homes.
Dream Finders has built neighborhoods in Berthoud, Severance and Longmont, as well as developments in Aurora, Littleton and Castle Rock.
In Brief
• Elevations Credit Union in Loveland offered members a free windshield wash Nov. 13 to celebrate its recently completed remodel, expansion and new drive-thru. In addition to the new drive-thru, the upgraded branch at 970 E. Eisenhower Blvd. has a bigger, brighter lobby, a more spacious teller line, an additional teller station and new offices for mortgage services, wealth management and business banking.
• Corporate Center Legacy recently purchased a 47,452-square-foot light industrial facility on 2.6 acres at 5610 Boeing Drive near the Northern Colorado Regional Airport in Loveland. Boeing Drive Investments sold the building for $6.9 million in a transaction that closed Oct. 7. The building currently is leased on a long-term basis to Rubadue Wire Co.
• Ursa Major Technologies of Berthoud closed out a long-running $25.26 million fundraising round by raising an additional $9.8 million in recent days. The company added the funds on top of an ongoing round that brought in $15.5 million last July, according to filings Wednesday with the U.S. Securities and Exchange Commission. Ursa Major makes rocket systems for micro and nano-satellites under 100 kilograms.
• Woodward Inc. of Fort Collins won a federal contract award for $86,436 from the Defense Logistics Agency in Richmond, Va., for alarm, signal and detection systems.
People
• Dr. Danielle Marshall, a doctor of osteopathy, has joined the staff at Banner Health Center in Southwest Loveland, 1230 14th St. SW, as a primary care physician. Marshall attended Edward Via College of Osteopathic Medicine in Blacksburg, Va., and has four years of experience treating patients. She is a member of the American Academy of Family Physicians. Phone: 970-820-3999.
• Longtime FMS Bank CEO John Sneed is retiring at the end of the year, and the bank’s chief operating officer, James Smith, is stepping up to fill the role. Sneed has led FMS, which operates branches in Fort Morgan and Greeley, and loan-production offices in Fort Collins and Longmont, since 2004 and joined the bank as executive vice president in 1997. Smith, who has previously held executive positions with Boulder-based Flatirons Bank and TBK Bank in Pagosa Springs, was brought on as chief operating officer in early 2019.
Send us your business news
The Reporter-Herald strives to include newsworthy business briefs for its readers each Sunday. The focus of business briefs is on Northern Colorado businesses, not business promotions.
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• Business organization meetings, workshops, seminars or classes meant for networking or education.
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• Earnings.
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