REBusinessOnline

Graycliff Capital Partners Purchases 183-Unit Milagro Apartments in Salt Lake City

SALT LAKE CITY — Greenville, S.C.-based Graycliff Capital Partners has acquired Milagro Apartments, a multifamily community located at 241 W. 200 South in downtown Salt Lake City. A joint venture between Colmena Group and PEG Cos. sold the property for an undisclosed price.Completed in 2018, the seven-story Milagro features 183 apartments in a mix of one- and two-bedroom floor plans with quartz countertops, gourmet kitchens with islands, and ceiling heights ranging between 9 feet and 12 …

Acquisitions, Multifamily, Utah, Western

Magna Investment Divests of 264-Unit Apartment Community in Salt Lake Valley

SANDY, UTAH — Magna Investment and Development has completed the disposition of Icon 9700, a multifamily property located in Sandy, approximately 20 miles southeast of Salt Lake City. Starwood Capital Group acquired the community for an undisclosed price.Constructed in 2018, Icon 9700 features 264 apartments, a resort-inspired pool deck, fitness center, outdoor grilling stations, private garages and a multi-purpose sport court for soccer, basketball and pickleball. At the time of sale, …

Acquisitions, Multifamily, Utah, Western

Kennedy Wilson Buys 247,000 SF Office Campus in Salt Lake City for $55M

SALT LAKE CITY, UTAH — Kennedy Wilson Fund VI, a commingled fund managed by Kennedy Wilson (NYSE: KW), has acquired three two-story office buildings and two development sites totaling 247,000 square feet in Salt Lake City. An undisclosed seller sold the assets for $55 million.Situated on 24.2 acres within Parkway Center, the campus is fully occupied by five tenants, including Amazon and Verizon, with both occupying single-tenant buildings.The acquisition expands Kennedy Wilson’s …

Acquisitions, Office, Utah, Western

CenterCal Properties Selects General Contractor for Phase II of Mountain View Village Project in Utah

RIVERTON, UTAH — Developer CenterCal Properties has selected Okland Construction to build the second phase of Mountain View Village Phase II, an 85-acre lifestyle development in Riverton.The second phase will include five pocket parks with unique amenities; show fountains; a covered market hall-style pavilion with a collection of eateries and common indoor and outdoor seating; a 14-screen Cinemark movie theater complex; and retail, restaurant and commercial spaces.The first phase …

Development, Mixed-Use, Restaurant, Retail, Utah, Western

Webinar: What will Salt Lake City Multifamily Activity Look Like in 2021?

The Dec. 7, two-part webinar "What will Salt Lake City Multifamily Activity Look Like in 2021?", hosted by Western Real Estate Business, allowed industry experts to discuss development pipeline, investor appetite and trends in the apartment sector.Watch for an in-depth discussion from the first panel on broker/lender thoughts on pricing, timing for investment and trends in the multifamily market. The second panel is devoted to analysis from developers, covering perspectives on …

Development, Leasing Activity, Multifamily, Utah, Video, Webinar, Western

Blueprint Brokers Sale of 42-Unit Seniors Housing Community in Park City, Utah

PARK CITY, UTAH — Blueprint Healthcare Real Estate Advisors has brokered the sale of an undisclosed assisted living and memory care community in Park City, approximately 35 miles southeast of Salt Lake City.The community was built in 1999 and features 32 units of assisted living and 10 units of memory care.The Pacific Northwest-based owner sought to divest the asset as a geographical outlier in its portfolio. A local owner-operator bought the property for an undisclosed price, taking …

Acquisitions, Multifamily, Seniors Housing, Utah, Western

GPR Ventures Enters Utah Market, Acquires 49,234 SF Warehouse in West Jordan

WEST JORDAN, UTAH — GPR Ventures has entered the Utah market with the purchase of an industrial warehouse property situated on 3.6 acres in West Jordan. Terms of the transaction were not released.BC Technical, a diagnostic imaging solutions and services provider, occupies the 48,234-square-foot facility, which features a 35,632-square-foot manufacturing and assembly area and a 13,602-square-foot office space.The property offers raised floors with an anti-static covering throughout the …

Acquisitions, Industrial, Utah, Western

Buchanan Street Partners Sells 160-Unit Ascent in Cottonwood Apartments Near Salt Lake City

COTTONWOOD HEIGHTS, UTAH — Buchanan Street Partners has completed the sale of Ascent in Cottonwood, a multifamily property located at 1151 E. 6720 S in Cottonwood Heights. Warmington Properties acquired the community for an undisclosed price.Built in 1996, the property features 160 apartments, a swimming pool with poolside pergola, outside television, bocce ball court and dog park.Danny Shin, Brock Zylstra, Steve Gebing and Cliff David of Institutional Property Advisors, a division of …

Acquisitions, Multifamily, Utah, Western

NKF Arranges Sale of 221,145 SF Creative Office Building in Salt Lake City

SALT LAKE CITY — Newmark Knight Frank (NKF) has arranged the sale of a creative office building located at 324 S. State St. in downtown Salt Lake City. Hamilton Partners and Cantor Equities sold the asset to Mortenson Cos., the real estate investment arm of M.A. Mortenson Cos., for an undisclosed price.The recently renovated, five-story building features 221,145 square feet of creative office space. The property features large floorplates, scenic views, fitness center, adjacent parking …

Acquisitions, Office, Utah, Western

RED Mortgage Capital Provides $39.3M Loan for Mixed-Income Multifamily Housing in Salt Lake City

SALT LAKE CITY — RED Mortgage Capital has provided a $39.3 million in Federal Housing Administration (FHA) financing for Liberty BLVD, an apartment community located in Salt Lake City. The borrower is Cowboy Properties.Liberty BLVD features 266 mixed-income apartments with a walkable location on the east side of downtown Salt Lake City. Twenty percent of the units are restricted to households earning up to 50 percent of the area median income. The community features 3,900 square feet of …

Loans, Multifamily, Utah, Western
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