PulteGroup, Inc. announced today that it has completed the sale of land approved for approximately 1,500 residences in Broomfield to Wheelock Street Capital LLC, a private real estate firm.
The all-cash transaction is for the remaining developed lots and undeveloped land in Anthem Colorado, a 1,700 acre master planned community in the northwest Denver metro area.
The master plan includes the communities of Anthem Ranch and Anthem Highlands.
Terms and conditions of the transaction were not disclosed.
PulteGroup said it will not realize a material loss or gain on the land sale.
“We are very proud of the Anthem Highlands and Anthem Ranch communities, which are known for their spectacular array of amenities and for being a great place to call home,” said Patrick Beirne, PulteGroup West area President. “This sale is consistent with PulteGroup’s capital allocation strategy and overall focus on driving greater returns on invested capital.”
Beirne said PulteGroup is confidant that Wheelocks financial strength and understanding of master-planned community development will contribute to Anthem’s continued success.
Wheelock Principal Dan Green said his firm recognized the extraordinary care with which Anthem Colorado had been planned and created.
“We want to continue making Anthem the best place to live in the Front Range,” said Green. Green said that Wheelock’s Denver partner, Jeff Handlin of Oread Capital and Development, would manage Anthem’s future development.Howard Pankratz: 303-954-1939 or hpankratz@denverpost.com.
