Cushman & Wakefield announced on Tuesday, June 1 $29.4 million construction financing for Avenida Loveland to be located in Centerra. The financing was provided by Bank of America.
Avenida Loveland will be an upscale, 154-unit, Active Adult community catering to active seniors. The boutique community will be a three-story, elevator-served building featuring extensive entertainment amenity spaces and dynamic exterior activity areas. The community will feature over 10,000 square feet (sf) of interior amenities, including a mountain view observation deck, a modern lodge-like great room, fitness studio, bistro and sports bar, creative arts studio, movie theater, pool, dog park, pickleball court, fruit tree orchard and more. The units will provide comfortable luxury for residents with high ceilings, expansive view windows, granite countertops, in-unit washer/dryers, walk-in closets, and private balconies.
Avenida Loveland is located within the 3,000-acre Centerra master-planned community. Loveland and Centerra provide an ideal location for the active senior with walkable access to abundant retail, Boyd Lake, and an extensive outdoor trail network. Loveland is consistently awarded as a top place to live, including recently “#1 Top Retirement Spot” by Where to Retire Magazine, “#1 Best Place to Live” by Money Magazine, and “#1 Best Place to Reinvent your Life” by AARP Magazine.
Active Adult communities provide seniors a safe and secure maintenance-free lifestyle with a full daily schedule of physically invigorating, emotionally engaging, and socially stimulating activities in a familiar “in-fill” location. Each community is designed for the active and independent senior, with a la cart services tailored to the needs and budgets of each individual resident. With resort-style amenities and a fun, social atmosphere, this “right fit home” is a welcome opportunity for many of the 78 million baby boomers to celebrate an active and fulfilling lifestyle.
The Cushman & Wakefield team involved in the transaction included Vice Chairman Richard Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig, and Senior Director Tim Hosmer.
“Loveland is a thriving market with an abundant senior population, and Avenida will bring their unique active adult product and expertise to provide an excellent experience for seniors,” said Swartz.
Avenida Partners is dedicated to the development and ownership of the new generation of high-quality, market-rate rental apartment communities for adults age 55 and better. Since 2008, the Avenida Partners team has been perfecting the design, development, and operational specifications with data-driven processes that create the right community fit for this growing market segment.
Avenida’s deep understanding of this powerful consumer segment has propelled them to a leadership role in this specialized niche. Based in Newport Beach, California, with a regional office in Nashville, Avenida has acquired superior metropolitan locations to showcase its brand and establish a strategic presence in major markets with near-term demand and highly favorable growth dynamics. Active in seven states, Avenida believes that their boutique residential communities make a positive impact in the life of every resident and each community they serve.
Guided by their core values of customer focus, commitment to excellence, transparency, integrity, and sound business judgment, the Avenida Partners team is passionate about providing the “right home fit” for today’s active seniors. They believe in boldly moving forward with the strength of their combined experience and the intensity of their commitment, keeping an energetic pace, and enjoying the ride. For more information visit www.avenidapartners.com.