BOULDER - College Avenue Partners LLC, an affiliate of New York-based private-equity firm Empire Square Group, has paid $12 million for the Lofts on College mixed-use development in Boulder, according to Boulder County property records.

The three-story building includes 13 student apartments, underground parking plus ground-level retail space.

The mixed-use building is the site of the former Jones General Store, which was demolished in late 2010 to make way for the development. Boulder developer Michael Boyers and Denver-based Forum Real Estate Group led the development, and entities affiliated with the pair were the sellers in the recent transaction.

Neither Boyers nor Forum principal Darren Fisk could be reached Wednesday, and an official with Empire was not available for comment.

Boyers and Fisk were also partners in the development of Lofts on the Hill at 1143 and 1155 13th St. Fisk also partnered with Lou DellaCava on the Two Nine North apartments near the Twenty Ninth Street mall.