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LOVELAND, COLO. – The 111-unit Buttes Apartments in Loveland has been purchased by a local investment group for $12.1 million. The complex was 97 percent occupied at the time of sale. The transaction also included an adjoining 0.86-acre parcel that was purchased for $125,000. The buyer doesn't yet know whether the parcel will be sold or incorporated into the Buttes. ARA Denver-based principals Doug Andrews, Jeff Hawks and Terrance Hunt, along with senior vice president Shane Ozment, represented the seller, Griffis/Blessing, in this transaction.