Assisted Living Facility Proceeds Used to Purchase Buildings in Canon City, Pueblo and Fort Morgan, Colorado
GREENWOOD VILLAGE, CO – June 27, 2017 – REC is pleased to announce the successful completon of a client’s 1031 exchange. With sale proceeds from a Denver-area assisted living facility, Assisted Living of Denver, LLC purchased three value-added commercial properties in Canon City, Pueblo and Fort Morgan.
Built in 1902, the Canon City building is a historic downtown mixed-use property. Built in 1976, the Pueblo building is a medical oﬃce property. The Fort Morgan building has been home to the Fort Morgan Times since its construction in 1909 and was sold by the parent company of the Denver Post.
REC Vice President, Alexander F. Becker, oversaw the site selection, negotiation, and due diligence process for each acquisition with details reported as follows:
- Seller: 517-519 Main Street
- Address: Canon City, CO
- Description: 9,240 square feet
- Seller: MNG Prairie Properties, LLC
- Address: 329 Main St., Fort Morgan, CO
- Description: 7,500 square feet
- Seller: Dale Haskins
- Address: 544 E. Abriendo Ave., Pueblo, CO
- Description: 9,500 square feet
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