A Colorado real estate management company has bought the 21 South at Parkview apartment complex on Sherwood Forest Boulevard for $20 million.
Boulder-based Monarch Investment and Management Group acquired the 10-acre property from Patrician Parkview LLC, a subsidiary of Patrician Management, a Baton Rouge-based real estate management company. Monarch used the LLCs of MIMG CXL South LLC, MIMG TT 21 South LLC as well as Kimberly and Clay Thompson to make the purchase.
The complex was built in 1974 and has 264 units. Rent for a one-bedroom apartment starts at $700, two-bedrooms at $830 and three-bedrooms at $1,185, according to realtor.com.
Monarch manages nearly 50,000 apartment units in 20 states, including two properties in Alexandria, according to its website. 21 South at Parkview appears to be the company’s only Baton Rouge property.