Berkadia Arranges $67.8M Financing for SLC Apartment Acquisition

Artemis Real Estate Partners and Preserve partners Berkadia acquired the 486-unit Enclave of Redwood in West Valley City, a suburb of Salt Lake City. The two companies say they plan to upgrade the property’s amenities and interiors. They obtained a $67.8 million Freddie Mac loan to acquire the property. Greg Barratt, who represented the seller, led the Berkadia Salt Lake City deal team. Patrick McGlohn, Brian Gould and Michael Slovitt led the Berkadia financing efforts.

Located at 3810 S Redwood Rd, Enclave at Redwood is a large garden-style, institutional-quality multifamily asset featuring 486 apartment homes with one-, two-, and three-bedroom units. Built in 1985, the property spans 27 acres and includes amenities such as a swimming pool, sundeck with cabanas, sports court, basketball court, outdoor lounge with fire pit, pet grooming station and park, covered parking, and package lockers.