Publisher tries another kind of update
Publisher Randy Miller hopes his golden touch for newspapers translates to real estate.
Miller recently paid $1.08 million for a four-bedroom, 1.5-bathroom home on 13th Street near The Hill neighborhood in Boulder.
The home, built in 1925 below Boulder’s scenic Flatiron Mountains, features a handful of mature trees and a carriage house in the backyard.
However, the home “is real old, and it hasn’t been updated,” said Miller, who plans to expand the kitchen and remodel the master bedroom.
Similarly, Miller purchased Boulder’s Colorado Daily out of bankruptcy for $2.4 million in 2001. He engineered a turnaround and this year sold it to Cincinnati-based E.W. Scripps Co., which owns the Rocky Mountain News and the Boulder Daily Camera.
The home’s seller was the Odetta Nadine Gutzmer Trust.
Exec’s home turns a profit
Camillo Martino and his wife, Maria, bought a Niwot home from Jack Stephen Cates, former owner of Boulder’s MediCenter Diabetic Supply, for $1.55 million.
Martino in July became chief executive and president of Cornice Inc., a Longmont provider of consumer data-storage devices. Last week, he helped his company secure $97 million in debt and equity financing – the second-largest venture funding of a Colorado company this year.
By contrast, Cates settled allegations earlier this month with the Department of Justice that his company submitted false Medicare claims for diabetic supplies. Cates, who admitted the claims were improperly submitted but denied an intent to defraud the government, was required to sell Medi Center and pay more than $1.6 million in proceeds to the government.
Cates originally paid $1.28 million for the home. His three-year holding of the new property netted him a 21.4 percent return, not counting commissions.
Among the home’s more notable features are a home theater and a bright-red entertainment room, complete with a stone fireplace, full bar and pool table. The four-bedroom home covers 7,000 square feet.
Niwot home in professional hands
Scott Schorer has sold his Niwot home for $1.47 million to Dr. Thomas and Dayna Matthew of Longmont.
The three-story home, featuring 12 rooms and covering 3,589 square feet, is on Quiet Retreat Court. Built in 1999, it features a finished basement, five bedrooms, five full baths and one half-bath, according to public records.
Schorer, co-founder and former chief executive of medical-supply chain Centri Med in Westminster, in 2002 became CEO of Innovative Spinal Technologies, a Mansfield, Mass.-based company that develops treatments for spinal injuries.
Thomas Matthew is a cardiothoracic surgeon in Boulder. Dayna Matthew is associate dean for academic affairs and an associate professor at the University of Colorado School of Law.
