Cloverleaf Sale in conflict with notice

[Andy Kadlec]

Hi Christina,

 

We’ve come across a concerning development with a large community on the market in Larimer County. Attached is a copy of a notice to the residents of that park (that it seems you have received as well) dated March 18^th giving notice of the owners intention to accept an offer. At the same time, a week later, below is an article commenting on the fact that this transaction already occurred.

 

We are putting this on your radar as a potential violation of the new OTP legislation, and are concerned of future sellers not respecting the law if some sort of action or notice isn’t taken on huge deals like this.

 

I am open to having a conversation around this if you think its helpful, but we would like to see what the state’s thoughts are on this situation, and how action can be taken to better enforce the respect of this new legislation.

 

Thanks in advance,

 

 

Cloverleaf mobile home community fetches $47M

LUCAS HIGH MARCH 25, 2021

FORT COLLINS — The Cloverleaf mobile home community on East Mulberry Street in Fort Collins changed hands this month for just over $47.1 million, according to Larimer County real estate records.

Beyond the sales price and the names of the buyer and seller of the 391-home site, roughly 60- acre community built in 1974, publicly available records about the deal are scant.

The seller was Boggs Kurlander Steele LLC, an entity that voluntarily dissolved this month, according to the Colorado Secretary of State’s office.

The company was registered to the Pasadena, California, address of Tower Management Co. Cloverleaf’s website shows Tower as the community’s property management company, but otherwise the company’s web presence is limited. Tower did not respond to an email Thursday.

The buyer, according to Larimer County records, is Royce Cloverleaf LLC.

Royce Cloverleaf is a Delaware company formed in December 2020 and in good standing with Colorado regulators. The entity is registered to 4412 E. Mulberry St., an address within the Cloverleaf community. The Corporation Service Co., rather than an individual person, is the company’s registered agent.

Royce Cloverleaf, which appears to have no web presence nor publicly listed phone number, could not be reached for comment.

This story will be updated as new information becomes available.

© 2021 BizWest Media LLC

 

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[Postolowski - DOLA, Christina]

Hi Andy,

Thank you for sharing this information.  MHPOP is in communication with the landlord's attorney.  It is our understanding that this property was recently transferred from one LLC to another LLC as part of a legal restructuring, and is now looking at accepting an offer for sale of the park.

Enclosed is the form we received from the landlord regarding the recent transfer, which the landlord has declared fell under an exemption to section 38-12-217, C.R.S.  In addition, MHPOP received a separate notice from Cloverleaf on 3/24/2021 regarding their intent to accept an offer for the sale of the community.  (Note that the landlord requested this notice remain confidential, so we are unable to provide a copy of the notice.)

Do you (or others on this chain) have a copy of the "Larimer County real estate records" referenced in the article?  Is it possible that the article is referring to the transfer described in the attached document, rather than the proposed sale?

Christina Postolowski, JD

Program Manager

She/her/hers*

Office of Regulatory Oversight

Mobile Home Park Oversight Program (MHPOP)

Direct 303.864.7859  |  Toll Free 1.833.924.1147

1313 Sherman Street #320, Denver, CO 80203
www.colorado.gov/dola/mobile-home-park-oversight

Under the Colorado Open Records Act (CORA), all messages sent by or to me on this state-owned e-mail account may be subject to public disclosure.  This email does not, and is not intended to, constitute legal advice.

*Learn more about why my pronouns are displayed here.

[Bob Overbeck]

Hello Commissioner Kefalas,

Per your request, here is the deed on file.   Please let me know if you need anything else. 

Sincerely,

Bob Overbeck

Assessor

	Bob Overbeck Assessor
	Office of the Assessor 200 W Oak St | 2nd Floor PO Box 1190, Fort Collins, CO 80522-1190 W: (970) 498-7050  C: (970) 732-0043  www.larimer.org

On Wed, Mar 31, 2021 at 10:31 PM John Kefalas <kefa...@co.larimer.co.us> wrote:

Hello Bob,

How would we access these real estate records? Thank you.

	John Kefalas County Commissioner, District 1
	Commissioners' Office 200 W Oak St | 2nd Floor PO Box 1190, Fort Collins, CO 80522-1190 W: (970) 498-7001 Cell:  (720) 254-7598 jkef...@larimer.org | www.larimer.org

[Bob Overbeck]

Good evening Commissioner Kefalas,

Additional follow up, please see assessor property records. 

Hello Bob,