California REIT pays $44.2 million for apartments in Loveland

LOVELAND — Steadfast Apartment REIT, an affiliate of Irvine, Calif.-based Steadfast Cos., has acquired a 222-unit apartment complex in Loveland for $44.2 million, according to public records.

PeakView by Horseshoe Lake at 341 E. Knobcone Drive, is the sixth property the real estate investment trust has acquired in Colorado. Steadfast Apartment REIT also owns the PeakView at T-Bone Ranch apartment complex at 4750 W. 29th St. in Greeley, which it bought for 40.3 million earlier this month.

Steadfast purchased the property from the entity BFN-Loveland LLC, which is registered to John Buckley of Denver, according to the Secretary of State’s office.

PeakView by Horseshoe Lake was built on 14 acres at a cost of $18 million in 2002.

The complex consists of 13 two- and three-story apartment buildings. It is 90 percent occupied and has one-, two- and three-bedroom homes, with average monthly rents of $1,338. Amenities include a fitness center, pool and hot tub, sand volleyball court, pet park, clubhouse with Wi-Fi and a business center.

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