Lincoln Place apartments in Loveland sell for $32.8 million

LOVELAND — A California-based real estate investment firm has acquired the Lincoln Place apartments in Loveland for $32.8 million, according to public records.

Brookline Investment Group in Aliso Viejo, Calif., bought the 200-unit apartment complex from Wolf Loveland Apartments II LLC, an entity of Scottsdale, Ariz.-based The Wolf Company LLC, which purchased the apartments in 2010 for $23.6 million from Lincoln Place LLC.

The apartment building at the corner of Lincoln Avenue and E. Fifth Street, which also has about 20,000 square feet of commercial space on the first floor, was built in 2007 by The O’Connor Group of Boulder. It consists of one-, two- and three-bedroom luxury apartments, plus a swimming pool and a fitness center.

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Brookline was formed in 2013 and has since acquired multifamily units in seven states including Colorado, Nevada, Utah, Oregon, Washington, Texas and Georgia.