The former Colorado Heights University campus in southwest Denver is under new ownership.
Glendale-based Westside Investment Partners closed Tuesday on its purchase of the 75-acre property at 3001 S. Federal Blvd., according to Principal Andy Klein.
Klein said the purchase price was $16.5 million.
The property was sold by Japan-based Teikyo University Group, which purchased the campus in 1989 for $7 million, according to records. Teikyo operated Colorado Heights University, which closed in 2017. CBRE brokers Eric and Marty Roth represented the seller.
BusinessDen previously reported that Westside was under contract to purchase the property.
In June, Klein said his company will create a master plan for the site that includes commercial and residential elements. Westside plans to sell some parcels to other developers.
“The development that happens will be dense, which will allow us to keep some green space,” Klein said in June. “Right now, we’re 100 percent sure that we’re going to preserve the main administration building.”
Westside is currently developing High Point, a mixed-use project on more than 1,000 acres near Denver International Airport. The company also is building Victory Ridge, a 155-acre mixed-use parcel near Colorado Springs that will be home to Colorado’s first In-N-Out Burger. Westside’s holdings also include Elevate, the 20-story building at 4100 E. Mississippi Ave. in Glendale.
The campus’ educational roots dates to the 1890s, when the site was home to girls school Loretto Heights Academy, run by the Catholic religious order Sisters of Loretto. Elementary and secondary programs were phased out in the 1940s, and the school became known as Loretto Heights College.
That school closed in the late 1980s, when Teikyo purchased the property.
Oakland-based Catellus Development Corp. was under contract to purchase the property prior to Westside, but that deal fell apart earlier this year.