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SALT LAKE CITY — NALS Apartment Homes has sold Cobble Creek, a multifamily property located six miles south of downtown Salt Lake City. An established, family-owned real estate investment business purchased the asset for an undisclosed price.
Developed in 1974, the property was owned and operated by the seller for more than 25 years. Situated on more than 18 acres, the property features 309,696 square feet of net rentable space and 361 apartment units, with an weighted average unit size of 858 square feet.
Steve Gebing of Institutional Property Advisors (IPA) and Cliff David, Danny Shin and Brock Zylstra of Marcus & Millichap represented the seller in the deal. Cody Cannon of Marcus & Millichap is the broker of record in Utah.