Lehi, Utah Rental Community Trades for $130M
Mountain States Properties sold Seasons of Traverse, a 440-unit apartment community in Lehi, Utah, for $130 million. The sale marks the largest widely marketed multifamily transaction on record in Utah County.
Cushman & Wakefield’s Kip Paul, Kevin Donner, Michael King, JT Redd, James Hunsinger, and Katie Goldberg represented seller Mountain States Properties in the transaction. The buyer was Weidner Apartment Homes.
“The property attracted nearly 30 offers from institutional and private investors across the country — the depth and diversity of buyer interest underscored the rare opportunity to acquire 440 units in the heart of rapidly growing northern Utah County,” said Paul.
Located at 4200 North Seasons View Drive, Seasons of Traverse Mountain is a grouping of four-story buildings, completed in 2014. It features 222 two-bedroom units, 168 one-bedroom units and 50 three-bedroom units.
Lehi remains one of the fastest-growing markets in Utah.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout