Hines Interests acquires Canyons South in Douglas County for $35 million

Douglas County

Property Location: Southeast side of Crowfoot Road, fronts east side Founders Parkway, northeast side of Macanta Drive

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Property Description: Vacant land

Land Size: 2,043 acres

Sales Price: $35M, or $17,132 per acre

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Reception No.: 2018029164

Closing Date: 5/10

Grantor: Canyons South LLC, Erik Clore, VP, Lowe Enterprises, 303-850-2406

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Grantee: Canyons South Development LP, c/o Hines Development, Mark A. Cover, senior managing director

Financing: $27.71M payable to Texas Capital Bank, NA

Comments: The property was listed and sold by Jim Capecelatro & Mike Kboudi of Cushman & Wakefield. Approximately 901.38 acres are Canyons South Filing No. 1A, which includes 425 residential lots and 87 tracts of land. Canyons South Planned Development, 5thAmendment, shows 2,043 acres with 968 residential units proposed within 691.6 acres, 276.2 acres of golf course, 450 acres of regional park, 22.1 acres of local park, 39.6 acres of right of way, 526.4 acres of natural open space and 37.1 acres of land dedicated to school. The seller indicated the net land area sold was approximately 1,100 acres.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.