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Loveland Reporter-Herald file photoThis 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 …
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