The Monarch apartment complex on fifth street was sold to Windsor Communities this week for a price rumored to be just over $100 million. The Monarch has an amazingly complex history for such young building. It was a rental building and then a condo project and then a rental building again. When it first hit the market, it took a long time to fill up. Eventually, the building did become fully occupied only to reportedly lose tenants after large rent increases -- as high as 30 - 50% -- for some units previously benefitting from concessions.And now, the building belongs to Windsor . . .
