Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Phoenix & Southwest  + Southwest  + Apartments  |  November 27, 2024
Investor Duo pay 91M for SLC apartments
Mike Boyd
By: Mike Boyd

Investor Duo Buys 486-Unit SLC Apartment Community

A joint venture of Artemis Real Estate Partners and Preserve Partners has purchased Enclave at Redwood, a 486-unit community in West Valley City, Utah. Berkadia secured a $67.8 million Freddie Mac acquisition loan on behalf of the buyer. 

Commercial Edge reports the previous owner, TruAmerica Multifamily, bought the asset in 2015 in a $102 million portfolio deal.

Enclave at Redwood is a 27-acre property comprising 10 two-story buildings. The units have one- to three-bedroom layouts ranging from 720 to 1,500 square feet. Amenities include a swimming pool, sundeck, basketball court, outdoor lounge with fire pit, pet grooming station and park and grade-level parking with 586 spots. The new owner plans to upgrade the amenity package. The property is at 3810 S Redwood Road, near Interstate 215. Murray Central Station is some 4 miles away, which connects West Valley City to Salt Lake City, less than 9 miles north, through the Blue and Red Lines and the FrontRunner.

Connect

Inside The Story

Artemis RE Partners

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
Order Reprints
New call-to-action
New call-to-action