Real Estate & Construction  October 12, 2022

Johnstown apartments sell for $73.1M price tag

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JOHNSTOWN — A Greenville, North Carolina, company has bought the Johnstown Plaza Apartments for $290,079 per unit.

The apartments, three — four-story buildings at 5150 Ronald Reagan Blvd. in the 2534 development at Johnstown — sold for $73.1 million on Sept. 22. 

Buyer was Graybul Johnstown LLC. Seller was Johnstown Plaza Apartments LLC, a company affiliated with Johnstown Plaza LLC of Overland Park, Kansas. Johnstown Plaza LLC bought the property from Thompson Ranch Development Co. in March 2016 for $2.1 million and built the apartment complex in 2020. 

In addition to the three buildings, each at 93,668 square feet and including 84 units, the property includes a 7,140-square-foot clubhouse and a 38,185-square-foot equipment storage facility, according to Larimer County Assessor records.

JOHNSTOWN — A Greenville, North Carolina, company has bought the Johnstown Plaza Apartments for $290,079 per unit.

The apartments, three — four-story buildings at 5150 Ronald Reagan Blvd. in the 2534 development at Johnstown — sold for $73.1 million on Sept. 22. 

Buyer was Graybul Johnstown LLC. Seller was Johnstown Plaza Apartments LLC, a company affiliated with Johnstown Plaza LLC of Overland Park, Kansas. Johnstown Plaza LLC bought the property from Thompson Ranch Development Co. in March 2016 for $2.1 million and built the apartment complex in 2020. 

In addition to the three buildings, each at 93,668 square feet and including 84 units,…

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Ken Amundson is managing editor of BizWest. He has lived in Loveland and reported on issues in the region since 1987. Prior to Colorado, he reported and edited for news organizations in Minnesota and Iowa. He's a parent of two and grandparent of four, all of whom make their homes on the Front Range. A news junkie at heart, he also enjoys competitive sports, especially the Rapids.
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