Gypsum, CO – BV Firewheel LLC, of Dallas, an affiliate of IC, has announced its purchase of the undeveloped portion of the Buckhorn Valley subdivision in Gypsum. BV Firewheel acquired all 168 acres of undeveloped land in Buckhorn in December 2013. A total amount of $4.7 M of equity was raised succesfully by International Capital, LLC. According to a release, John Franklin, BV Firewheel president, assembled a group of experienced development investors for the purchase, which is approved for 567 total housing units slated for development over the next several years. The project is approved for new single family homes, duplexes and townhomes.
The land at its full development capacity will provide Eagle County with 899 new homes, including 120 units in Aspen Ridge and 212 lots that are developed for housing in Phases I, II, III and IV of Buckhorn Valley. The first 60 lots are presently underway for development, and 30 lots are presold, to close immediately after the town of Gypsum has approved the final layout for the lots. The first 90 homes will be built by local Green Valley Homes, an affiliate of IC . Green Valley Homes has been building in Buckhorn Valley since 2008. The new addition to Buckhorn Valley will begin immediately thereafter and homes should be available for purchase during the summer of 2014.
International Capital, LLC is a boutique real estate advisory firm with over 35 years experience representing more than 100 legal entities in its capacity as asset manager and as property manager. The company handles a portfolio of more than 20 properties in the southwestern United States. Offering a wide range of commercial real estate services, specialties include the acquisition, disposition, management and administration of commercial investment properties. Land and property development, funds conception, mezzanine financing and cash management are also integral parts of the company’s portfolio.