Utah

Regal Cinemas Breaks Ground on $20M Megaplex in Metro Salt Lake City

by Nellie Day April 20, 2016

TAYLORSVILLE, UTAH — Regal Cinemas has broken ground on an over $20 million megaplex located at The Crossroads of Taylorsville shopping center in the Salt Lake City suburb of Taylorsville. The 60,419-square-foot development will seat 1,400 guests in 14 auditoriums. The grand opening for the project is expected by year’s end. Regal Cinemas is part of an ongoing multi-million dollar redevelopment for The Crossroads of Taylorsville that includes local eatery Cafe Rio, which opened on the property earlier this year. Ira Mitchell of IJM represented the landlord, and Candace Gray of Envision Realty Advisors represented Regal Cinemas in the leasing transaction.

April 20, 2016

Industrial Utah Western

ExtraSpace Signs 50-Year, 42,197 SF Lease at New Facility in Utah

by Nellie Day April 11, 2016

HOLLADAY, UTAH — ExtraSpace has leased 42,197 square feet of space at 5580 S. Van Winkle Expressway in Holladay. The lease is for 50 years. The space is under construction. When completed, it will be a double-deck, climate-controlled storage facility. ExtraSpace Storage is the second largest indoor storage company in the USA, with 1,350 locations. Chris Monson and Brett Palmer of Mountain West Commercial Real Estate represented the landlord in the transaction.

April 11, 2016

Colorado Loans Multifamily Seniors Housing Utah Western

Oxford Provides $27M Loan for Cascade’s Purchase of Three Skilled Nursing Facilities

by Nellie Day March 10, 2016

SEATTLE — Oxford Finance LLC, a Virginia-based specialty finance firm that provides senior debt to life sciences and healthcare services companies, has closed a $27 million term loan to Cascade Capital Group LLC. The funds were used to purchase three skilled nursing facilities in Colorado and Utah. The names of the facilities were not disclosed. Based in Seattle, Cascade Capital is a newly formed private equity firm that invests in long-term care facilities. It leases its facilities to Illinois-based Legacy Healthcare.

March 10, 2016

Multifamily Student Housing Utah Western

Berkadia Arranges Sale of University Villa Apartments near Brigham Young University

by Nellie Day March 10, 2016

PROVO, UTAH — Berkadia has arranged the sale of University Villa Apartments, a 125-unit student housing property located three blocks from the Brigham Young University campus in Provo, for an undisclosed price. The buyer intends to complete major renovations on the complex, which was originally built in 1965. James Wadsworth and Greg Barratt of Berkadia represented the seller, a California-based entity, in the transaction. The complex offers two- and three-bedroom units with fully equipped kitchens, high-speed Internet, cable, air conditioning and outdoor storage. Community amenities include a recreation room, swimming pool and hot tub, laundry facility and a barbecue area.

March 10, 2016

Multifamily Seniors Housing Utah Western

Three Skilled Nursing Facilities in Colorado, Utah Sell for $31.8M

by Nellie Day February 17, 2016

CEDAR CITY AND ST. GEORGE, UTAH, AND PARKER, COLO. — Senior Living Investment Brokerage Inc. has arranged the sale of three skilled nursing facilities — Crown Crest of Parker in the Denver suburb of Parker, Kolob Regional Care in Cedar City and Rehab and Kolob Care in St. George — for $31.8 million. Both Utah facilities are located in the southwest corner of the state near the Nevada and Arizona borders. The portfolio totals 454 beds, representing a price per bed of $70,000. The purchase represents a capitalization rate of 8.7 percent. The buyer is a real estate investor in the Midwest that leased the communities to local operators. The seller is a private owner based in Illinois looking to exit the seniors housing sector. Ryan Saul and Patrick Burke of Senior Living Investment Brokerage led the transaction.

February 17, 2016

Multifamily Seniors Housing Utah Western

Kisco Acquires 183-Unit Seniors Housing Community in Utah

by Nellie Day February 5, 2016

SANDY, UTAH — Kisco Senior Living has acquired Atria at Sandy, a 183 unit independent and assisted living community in the Salt Lake City suburb of Sandy, for an undisclosed price. Kisco has renamed the community Cedarwood at Sandy. The building is on a six-acre plot and includes 122 independent living and 61 assisted living residences. Kisco also acquired four acres adjacent to community, formerly a nursing home, to build a 100-unit assisted living and memory care addition to be called Cedar Court. Construction will begin later this year. This is Kisco’s second Utah location, joining Sagewood at Daybreak, which recently opened its doors in nearby South Jordan. Based in Carlsbad, Calif., Kisco operates 22 senior living locations in California, Florida, North Carolina, Texas, Utah, Hawaii and Virginia.

February 5, 2016

Retail Utah Western

Vestar, Oaktree Acquire Retail Center at The Gateway in Salt Lake City

by Nellie Day February 3, 2016

SALT LAKE CITY — Vestar, in a joint venture with funds managed by Oaktree Capital Management L.P., has acquired a 623,205-square-foot open-air retail and entertainment center within The Gateway, a retail, residential and office complex located in downtown Salt Lake City. The purchase price was not disclosed. The center is leased to over 100 tenants including Barnes & Noble Bookstore, California Pizza Kitchen, The Depot, Dick’s Sporting Goods, Megaplex 12 at The Gateway, Metro Fitness, Starbucks Coffee and Victoria’s Secret. Vestar plans to invest $30 million in revitalizing and rebranding the center.

February 3, 2016

Office Utah Western

Price Human Services Building in Utah Changes Hands

by Nellie Day February 2, 2016

PRICE, UTAH – The Price Human Services Building, a 37,829-square-foot office building in Utah, has sold to an unnamed buyer. The price was not disclosed. The space is located at 475 West Price River Drive in Price. It is fully leased to tenants like the Utah Attorney General, the Utah Department of Workforce Services, the Utah Department of Family and Child Services, and the Utah Department of Rehabilitation Services. The seller, Fairbridge Properties, purchased the asset in 2013.

February 2, 2016

Industrial Utah Western

Land Advisors Purchases Honeyville Grain Building in West Valley City

by Nellie Day January 28, 2016

WEST VALLEY CITY, UTAH — Land Advisors has purchased the 61,630-square-foot Honeyville Grain Building in West Valley City for an undisclosed sum. The property is located at 1811 W. Alexander St., within the Decker Lake Business Complex. The seller, Intercon, formerly occupied the building. The company was represented by Luke Burbank of Newmark Grubb ACRES.

January 28, 2016

Loans Multifamily Utah Western

Wasatch Capital, Dougherty Mortgage Arrange $11.8M Refinancing for Apartment Community in Utah

by Nellie Day January 27, 2016

PLEASANT VIEW, UTAH — Wasatch Capital Group and Dougherty Mortgage LLC have arranged an $11.8 million refinancing for The Cove at Pleasant View, an 88-unit multifamily community in Pleasant View, approximately 40 miles north of Salt Lake City. The community is located at 255 E. 2700 N. in Pleasant View. The Fannie Mae loan features a 12-year term and a 30-year amortization schedule. The borrower is Westates Investments LLC.

January 27, 2016

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