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AMERICAN FORK, UTAH — Gelt Venture Partners (GVP) has acquired Alvera at the Meadows in American Fork, about midway between Provo and Salt Lake City. The seller and sales price were not disclosed.
The 142-unit property was developed in 2021 on about 4 acres. It features a mix of one-, two- and three-bedroom floor plans, as well as amenities such as a pool and hot tub, fitness center, clubhouse, package lockers and a playground. GVP is planning property upgrades during its hold.
Brock Zylstra and Daniel Shin of Institutional Property Advisors (IPA) represented both the buyer and the seller in the transaction. GVP also acquired The Commodore, a 92-unit property in National City, Calif., in early August.