California company nabs pair of Longmont apartment complexes

LONGMONT — A California company recently purchased a pair of apartment communities in Longmont in two early December transactions that totaled $27 million. 

Boulder County property records show that Parkside Owner LLC, a holding company registered with the Colorado Secretary of State’s office to the Santa Monica address of real estate investment firm Lincoln Avenue Communities, paid $14.75 million for the Parkside Apartments complex at 1209 Tulip Street. 

The seller was Parkside Investment Group LLLP, an entity registered to a residential address in Longmont.

Parkside, which has 50 two- and three-bedroom units, was built in 1980 and last sold in 2005 for  $2.4 million, Boulder County property records show. 

The same two parties were involved in the sale of Mountain View Plaza, an apartment community at 1350 Collyer St., less than two miles from Parkside. 

Public records show that Mountain View Plaza Investment Group LLLP, which is registered to the same Longmont address as the Parkview seller, offloaded Mountain View Plaza to Mountain View Apartments Owner LLC, registered to Lincoln Avenue Communities’ California address, for $12.25 million.

The complex, built in 1977, has 80 one- and two-bedroom units and last sold in 2005 for $2.5 million. 

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