7431 La Jolla Blvd. -- Photo courtesy of Colliers International

7431 La Jolla Blvd. -- Photo courtesy of Colliers International

LJ Tides LLC has purchased a 30-unit apartment building known as The Tides for $8.55 million, according to brokerage company Colliers International.

The seller of the property at 7431 La Jolla Blvd. was Zwack Trust et al, represented by Colliers’ Peter Scepanovic, Corey McHenry and Victor Krebs.

Brokers said the property was built in 1968 and has been under the same local family ownership for the past 47 years. The buyer plans to renovate and reposition the property, which is located near La Jolla’s Marine Street and Windansea beaches.