Pinnacle Announces Sale of 42 Acre Covenant Heights Conference Center
Our faith-based clients often times have requirements to either buy or sell retreat properties. Such was the case with the regional division of the Covenant Church. They had owned the 42 acre Covenant Heights Conference Center on Highway 7, ten miles south of Estes Park since 1946. It was time to sell the asset and they listed with us in July 2017. We provided a great deal of market exposure for the property and were able to generate significant interest and activity. Due to extensive retreat property experience, we thought the property would be ideal for the Archdiocese of Denver (“AOD”) knowing that they had been unable to fully restore the iconic Camp St. Malo since its fire damage several years prior. For this transaction, we converted to a Transaction Broker and drafted the purchase and sale agreement in September. We coordinated numerous amend/extend agreements due to extensive issues with the new survey and corrected legal description. We closed on the property on December 21, 2017 for $3,700,000. The AOD took title and renamed the property, Annunciation Heights.