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 feet.
Community amenities include smart-home features; a fitness center with on-demand fitness classes; yoga studio; tiered seating movie theater; pet park; pet washing station; resort-inspired pool and deck; outdoor kitchen; fire pits; and interactive courtyard spaces for lawn games. Additionally, the property features two street-front restaurants.
Patrick Bodnar and Eli Mills of CBRE’s Salt Lake City office represented the seller in the transaction.