Demaske pays $5.8M for Fort Collins building housing Advantage Bank branch

FORT COLLINS — The owner of Loveland-based Advantage Bank and Greeley-based Journey Homes has bought the Fort Collins building where Advantage has a branch.

Jeff Demaske’s J & J Enterprises Property Management LLC paid $5.8 million to purchase 4532 McMurry Ave., according to Larimer County property records. The seller was Harmony-McMurray LLC, an entity managed by developers Jay Stoner and J.D. Padilla, according to documents filed with the state.

Neither Demaske nor Padilla could be reached on Wednesday.

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In addition to the Advantage Bank branch, the 21,216-square-foot building at the northeast corner of McMurry and Harmony Road includes a Nationwide Insurance office and a chiropractic clinic.

Demaske and Journey Homes co-owner Larry Buckendorf took ownership of Advantage Bank last year after Demaske, a shareholder and customer of the bank, called in a $2 million promissory note that the bank could not repay.

Advantage has branches in Loveland, Fort Collins and Greeley.