REBusinessOnline

Gantry Arranges $9.8M in Financing for The Lake Apartments in Coeur d’Alene, Idaho

COEUR D’ALENE, IDAHO — Gantry has secured $9.8 million in permanent financing for The Lake Apartments, a newly constructed multifamily community located in Coeur d’Alene.Demetri Koston and Joyce Chen of Gantry arranged the 12-year, fixed-term, Fannie Mae refinancing, which includes a $1.5 million cash-out. The name of the borrower was not released.Delivered this year, The Lake Apartments features three interconnected buildings offering a total of 46 apartments in a mix of studio, …

Loans, Multifamily, Utah, Western

Ostler Holding Sells Family Dollar-Occupied Retail Property in Helper, Utah

HELPER, UTAH — Ostler Holding Limited Company of Utah LLC has completed the disposition of a retail building located at 610 US-6 in Helper. An in-state limited liability company acquired the asset for $1.3 million.Built in 2019 on 1.4 acres, the property features 8,320 square feet of retail space. Family Dollar occupies the building on a double net lease with 8.5 years remaining on the term.Drew Isaac and James Rassenfoss of Marcus & Millichap represented the seller in the …

Acquisitions, Net Lease, Retail, Utah, Western

Hunt Real Estate Capital Funds $41.4M in Fannie Mae Loans for Manufactured Housing Communities in Arizona, Utah

TEMPE, ARIZ., AND UINTAH AND ROY, UTAH — Hunt Real Estate Capital has funded three Fannie Mae conventional loans, totaling $41.4 million, to refinance three manufactured home communities in Arizona and Utah. All three transactions lowered interest rates for the borrower and provided cash-out options.The three communities, which are 100 percent mission driven and share the same management company, include:Tempe Cascade Mobile Home Estates, a 273-site property built in 1971 in Tempe …

Arizona, Loans, Multifamily, Utah, Western

DB Capital Management Sells Edgewood Park Apartments in Salt Lake City for $15.5M

SALT LAKE CITY — Playa Vista, Calif.-based DB Capital Management has completed the disposition of Edgewood Park, a multifamily community located in Salt Lake City’s Cottonwood Heights submarket. A private investor acquired the property for $15.5 million.The seller originally purchased the asset in September 2018 for $11 million and immediately implemented an interior and exterior renovation program that included quartz countertops, stainless steel appliances and vinyl-plank flooring, as …

Acquisitions, Multifamily, Utah, Western

PCCP, Koll Co. Acquire Eight-Building Industrial Portfolio in Sacramento, Salt Lake City for $41.3M

WEST SACRAMENTO, CALIF., AND SALT LAKE CITY — A joint venture between PCCP and The Koll Co. has purchased an eight-building industrial portfolio in West Sacramento and Salt Lake City. A private family trust sold the portfolio for $41.3 million.Totaling 510,7070 square feet, the assets were fully leased at the time of sale.The three California properties, totaling 226,000 square feet, are located within the Port of Sacramento Industrial Park. Built in 1987, the buildings feature 22- to …

Acquisitions, California, Industrial, Utah, Western

Marcus & Millichap Brokers Sale of All American Storage in West Valley City, Utah

WEST VALLEY CITY, UTAH — The LeClaire Group of Marcus & Millichap has arranged the purchased of All American Storage in West Valley City. A regional real estate investor acquired the 8,800-square-foot self-storage facility for an undisclosed price.Built in 1997, the property features 45 drive-up, non-climate-controlled self-storage units and an on-site apartment. Units range in size from 100 square feet to 400 square feet, with the ability to reconfigure unit sizes to accommodate …

Acquisitions, Industrial, Self-Storage, Utah, Western

Trez Capital Closes $12.1M in Construction Loans for Two Multifamily Projects in Utah

OGDEN, UTAH — Trez Capital has closed two construction loans, totaling $12.1 million, for the development of two rental townhome communities along Canyon Road in Ogden approximately 40 miles from Salt Lake City. The two loans are part of Trez’s first financing agreement with the borrower, Lotus Co., to develop Class A affordable townhome rental properties.Construction for both properties, Foxridge and Whisperwood, began in January.Foxridge features 38,000 square feet of rentable …

Development, Loans, Multifamily, Utah, Western

IPA Brokers Sale of 95-Unit Liberty Crossing Apartment Community in Salt Lake City

SALT LAKE CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Liberty Crossing, a multifamily property located in Salt Lake City. Elan Multifamily Investments acquired the community from Liberty Crossing Associates for an undisclosed price.Built in 2019, the 102,011-rentable-square-foot property features 95 apartments.Danny Shin and Brock Zylstra of IPA brokered the

Acquisitions, Multifamily, Utah, Western

Lowe, BCG Holdings, Q Factor Break Ground on $144M Post House Mixed-Use Project in Salt Lake City

SALT LAKE CITY — A partnership between Lowe Property Group, BCG Holdings and Q Factor has broken ground on Post House. The mixed-use, pedestrian-friendly development will be located in Salt Lake City’s downtown Post District.MVE + Partners designed Post House, which will feature five buildings offering a total of 580 residential units, 22,405 square feet of retail space and 86,000 square feet of private and public outdoor space. Completion of the 488,765-square-foot project is scheduled …

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

Hines, Industrious to Open Coworking Space at Kearns Building in Salt Lake City

SALT LAKE CITY — Hines and Industrious will open The Square with Industrious Salt Lake City, the second flexible workspace location under the Hines2 platform, on June 22. Located in the historic Kearns Building at 136 S. Main St., The Square with Industrious Salt Lake City will be the first coworking space in Utah to pursue the International WELL Building Institute’s WELL Certification. Industrious will operate the asset.Hines has implemented a $25 million redevelopment project at the …

Development, Office, Utah, Western
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