California investor buys 2 NoCo apartment complexes
LOVELAND and GREELEY — Stratford Partners LLC, a California-based real estate investment firm, is the new owner of a pair of apartment complexes in Northern Colorado.
The firm, through holding company SPRE Centennial LLC, bought the 82-unit Centennial Place Apartments in Greeley and the 63-unit Foothills Apartments in Loveland for a total of $23.5 million, according to Weld County and Larimer County property records.
The seller, Centennial Place Apartments LLP, is registered to the Boulder address of Ronald Littmann, records show.
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Neil Littmann and Jessica Cashmore of The Colorado Group Inc. represented the seller in the transaction, which happened last month.
“We are thrilled to have had the opportunity to represent the sellers in the sales of Centennial Place Apartments and Foothills Apartments, which have been continuously owned and operated since 1984 and 1976 respectively,” Littmann said in a prepared statement. “The buyer, Stratford Partners, was incredible to work with, and I am confident that it will successfully operate the properties well into the future.”
Stratford, according to its online portfolio, operates a slew of apartment communities across the Western United States, including Westlake in Greeley, Parkway Flats in Longmont and Prana in Lafayette.
“Stratford Partners is excited to be the new owners of Foothills and Centennial Place Apartments. Both assets are well located in growing markets and have been impeccably maintained throughout their long-term ownership,” Stratford managing partner Jesse Wilson said in a statement.
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