Longridge Apartments, off Sherwood Forest Boulevard, has been sold for $16 million, according to sales documents.
Boulder-based Monarch Investment and Management Group acquired the 8-acre property from Longridge Apartments LLC. Monarch used the LLCs of MIMG CLIV
Longridge SUB LLC, MIMG LR4 Longridge LLC as well as Luciana Fernandez to make the purchase.
The 144-unit complex was built in 2000 and features five floor plans for one-, two- and three-bedroom apartments. The complex across the street, roughly double the size of Longridge, sold for $14.75 million in early 2016.
Monarch manages 54,913 apartment units in 22 states, including Dove Creek Apartments on Airline Highway and 21 South at Parkview on Sherwood Forest.
Longridge isn’t the only apartment complex trading hands at the end of the summer. Live Oaks Apartment Homes, off Jefferson Highway and Stumberg Lane, was sold for $20.5 million to Metairie based-Cypress Communities, doing business as Live Oaks Baton Rouge Apartments, in a deal filed late last week. Built in 2001, that complex has 184 units.
