LOVELAND McWhinney Real Estate Services Inc. has raised just more than $3.53 million in what appears to be funding for a future industrial construction project.
IH Industrial One Investments LLC raised the funds from 12 investors in an all-equity offering, according to disclosures made Tuesday to the U.S. Securities and Exchange Commission.
That LLC’s registered address is the same as McWhinney’s Loveland address and lists the development company as its manager.
McWhinney has previously used these investment vehicles to fund development projects, most recently raising
just less than $4 million to construct a 123,000-square-foot warehouse in the Centerra Industrial district in Loveland. In that case, the McWhinney used the word “CIndustrial” in the name to signify the project would be built in that district.
Kinston. It will be located north of The Promenade Shops at Centerra, east of Interstate 25.
The development will include 2,800 home sites and in 10 to 15 years accommodate about 8,000 residents.
“Breaking ground on Kinston marks a pivotal milestone in the expansion of our Centerra community, as we build upon our legacy of creating great places and providing fabled experiences,” Chad McWhinney, CEO and co-founder of McWhinney, said in a written statement.
Kinston is the newest residential development now under construction in Centerra in east Loveland. Courtesy McWhinney.
Kinston, by comparison, will have more homes than what exists in Centerra, which has 2,500 residential offerings. Like other developments within Centerra, Kinston will include trails, open space and other amenities.