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McWhinney, partners paid $45M for Foothills – BizWest

FORT COLLINS A joint venture between Loveland-based McWhinney Real Estate Services Inc. and Los Angeles-based Prism Places paid $45 million for the troubled Foothills shopping center in Fort Collins. MXD Fort Collins LLC, based at McWhinney’s Loveland headquarters, purchased the 662,000-square-foot property from Cordes & Co. LLP, the court-appointed receiver for the property, according to a deed recorded with the Larimer County Clerk and Recorder. The buyer also filed a $30.6 million deed of trust with Independent Bank. A spokesperson for McWhinney could not immediately be reached for comment on the purchase price. MUFG Union Bank NA in December filed a lawsuit in Larimer County District Court against Foothills’ prior owner Walton Foothills Holdings VI LLC. MUFG claimed that Walton Foothills had defaulted on a $145 million loan, with $46.59 million remaining in unpaid principal and interest at that time.

McWhinney partners with L A group to acquire Foothills mall in Fort Collins

McWhinney partners with L.A. group to acquire Foothills mall in Fort Collins   Loveland-based McWhinney Real Estate Services Inc. closed on the Foothills mall in Fort Collins this week after pursuing the foreclosed shopping center for months. The new owners, which include California real estate firm Prism Places Inc., will immediately begin “supporting the mall’s existing tenants, taking inventory of current operations and engaging stakeholders to gather input on potential future improvements to the property,” McWhinney said in a news release Wednesday morning. The sales price was not immediately available Wednesday, and a deed had yet to be recorded with Larimer County.

McWhinney partners with L A group to acquire Foothills mall – BizWest

McWhinney partners with L A group to acquire Foothills mall – BizWest
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