Northmarq arranges sale of 3 mid-rise multifamily properties in Ogden and Salt Lake City, UT
Photo above: The View on 20th (Source: theviewon20th.com)
SALT LAKE CITY — Northmarq’s Salt Lake City Investment Sales team led by Rawley Nielsen and Mark Jensen successfully led the sale of three mid-rise multifamily communities totaling 257 units based in Salt Lake City and Odgen, Utah.
The three properties include:
- The View on 20th | 148 units | 283 Park Blvd., Ogden, UT
- theRANDI | 61 units | 218 S. 200 E., Salt Lake City, UT
- theBEVERLY | 48 units | 63 S. 600 W., Salt Lake City, UT
Northmarq represented the sellers in all three transactions. The buyer was Veritas Investments, together with its capital partner Refound Residential, the dedicated multifamily housing division of Lake Washington Partners.
“Veritas & Refound saw an opportunity to enter the Salt Lake City market today at an attractive purchase basis, and to position itself for the long-term growth this region continues to deliver,” Nielsen said. “The fundamentals along the Wasatch Front are hard to match. Job growth and in-migration have consistently outpaced national averages, and housing supply hasn’t kept up with demand over the long run. These three assets give Veritas & Refound immediate scale in both downtown Salt Lake City and Ogden, and they’re buying in at a point in the cycle that should reward patient capital.”
The View on 20th features one-, two- and three-bedroom units with expansive Wasatch Front mountain views, patio/balcony, black or stainless steel appliances, wood-like flooring, plush carpeting in bedrooms, in-home washer/dryer, nine-foot ceilings, walk-in closets and additional storage available. Community amenities include a year-round spa and lounge, pet-friendly bark park, warming outdoor fire pit, clubhouse, complimentary coffee bar, bike storage and racks, and more.
TheRANDI offers studio, one-, two- and three-bedroom floorplans with custom-curated finished packages, 10-foot ceilings and floor-to-ceiling views of the Wasatch Mountains. Apartments offer upgraded finishes, quartz countertops, stainless steel appliances, hardwood flooring, full-size washer/dryer, smart home technology and a private balcony. Community amenities include expanded roof deck with BBQ and seating, on-site maintenance and management, CityLift parking garage, EV charging stations and a prime location in the heart of downtown Salt Lake City.
TheBEVERLY offers one-, two- and three-bedroom floorplans with stainless steel appliances, full-size washer/dryer, air conditioning, walk-in closets, hardwood flooring, quartz countertops, 10-foot ceiling, city views and a private patio or deck. Community amenities include EV charging stations, professional on-site management and maintenance, and restaurants, entertainment, shopping and a TRAX Station within walking distance.
About Veritas Investments
Veritas Investments, Inc. is a technology-enabled real estate investment and management company that specializes in sustainably operating mixed-use multifamily properties in major Western U.S. markets. Founded in 2007, Veritas manages mixed-use and multifamily properties on behalf of institutional and individual investors. Our buildings are classic, iconic landmarks in irreplaceable neighborhoods located in some of the most desirable submarkets in the Western U.S. Visit www.veritasinvestments.com.
About Refound Residential
Refound Residential is the multifamily division of Lake Washington Partners, a diversified real estate company with a focus on long-term ownership, investment and asset management. Through its commitment to thoughtful investment, community enhancement and sustainability, Refound Residential seeks to create modern living environments that meet the evolving needs of residents while fostering connections and long-term value. Visit www.refoundresidential.com.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
