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Johnstown apartments sell for $73.1M price tag

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.

Source: BizWest