Tantra Lake Condos Sell for $33.75M

Boulder Investment Properties LLC purchased the 301-unit apartment complex located at 993 East Moorhead Circle in Boulder, CO. The purchase price was $33.75 million, or approximately $112,000 per unit. Constructed in 1972, the 30-building, 22-acre property features 103 one-bedroom units, 166 two-bedroom units, and 32 three-bedroom units. Complex amenities include numerous barbeque areas, a clubhouse, a gym, a large picnic area, pools, spas, storage lockers, and tennis courts. The new owners will complete upgrades and extensive maintenance, after which the units will be sold as condominiums. Boulder Investment Properties LLC was represented in-house in the transaction. Al Ray of the Al Ray Company represented the seller, Tantra Lake Partners LP.