Holcim LaPorte land and water sell for $16.8 million

LaPORTE, COLO. – Holcim’s sale of 2,886 acres of land and 885 shares in the Colorado-Big Thompson Water Project brought a combined $16,814,000 over the weekend, culminating with Saturday’s land auction.

The total price included $7,637,000 from Saturday’s land auction and $9,177,000 from an agreement Friday in with the Fort Collins-Loveland Water District for the C-BT shares.

By all indications, everyone is pleased with the outcome,” said Craig King, president of J.P. King Auction Company, which managed the sale. More than 350 people -- including 183 registered bidders from eight different states -- crowded into the Fort Collins Hilton for the auction, which also offered live music and hors d’oeuvres.

When we first announced plans for an auction, this is exactly the outcome we had in mind,” said Tom Chizmadia, vice president of communications and public affairs for Holcim. “We wanted to give everybody interested an opportunity to bid on this land, and that’s what happened. We’re very pleased with the result.”

In all, 32 different buyers emerged as successful bidders for the real estate.

Saturday’s sale got a jump start on Friday, when the Fort Collins-Loveland Water District agreed to purchase all 885 C-BT water shares at a total price of $9.3 million. Under that agreement, bidders who purchased land in Saturday’s auction were allowed to purchase C-BT shares for $11,550 each, with the water district purchasing the rest.

The Fort Collins-Loveland Water District supplies water for municipal and agricultural use in the area.

In effect, the agreement with the water district ensured Holcim a sale price that was in line with recent sales of C-BT shares, so the auction itself was able to focus on the sale of the land,” said King.

Most of the real estate sold consisted of Boettcher Farm Estates, which included land on Curtis Lake that was originally part of the property surrounding Holcim’s LaPorte cement  plant, which closed in 2003. The property was named in recognition of Charles Boettcher, who established the LaPorte plant in 1927.

The auction also included several office buildings, approximately 448 acres north of the North Poudre Reservoir, and approximately 11 acres at the entrance to the Withrow Ridge Subdivision.

Holcim (US) Inc. is one of the nation’s leading manufacturers and suppliers of cement and mineral components. The company is a subsidiary of Holcim Ltd, of Switzerland. With major and minority interests in over 70 countries on all continents, Holcim Ltd is one of the world’s leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.

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