Salt Lake City

News

Northstar Commercial-Integrity Trust Launch $125M Fund

John Jordan |

The fund, structured as a REIT under a 506(c) designation, is an evergreen fund focusing on 75% value-add, and 25% cash-flowing commercial real estate investments in primarily Western growth markets, including but not limited to Colorado, Utah, Texas, Arizona, New Mexico and California.

There Is a Luxury Development Boom Happening in Park City

Kelsi Maree Borland |

“The supply is coming quickly,” says Brian Shirken of Columbus Pacific Properties, a developer in pre-development on its second project in the market.

News

Tanger Factory Outlets Sells Four Non-Core Centers for $131M

John Jordan |

“By completing these asset sales, we are strengthening the overall quality, reducing the average age, and improving the longer-term growth profile of the portfolio,” says Steven B. Tanger, CEO of Tanger Factory Outlet Centers.

Utah Tech Sector Attracts SoCal CRE Companies

Kelsi Maree Borland |

The emerging tech sector in Utah could be the beginnings of a market boom akin to that of Northern California.

Where California Investors Are Buying This Year

Kelsi Maree Borland |

California is still a top market, despite its maturity, along with Western US secondary markets that show signs of growth.

News

Bridge Investment Doubles South Florida Commercial Portfolio

John Jordan |

The property is currently 76% occupied. Bridge Investment Group, which acquired more than 6 million square feet of space in the US in 2018, says it plans to undertake a $5-million capital improvement program at the campus.

News

MedCore-Led Venture Closes on First Tranche of $130M Senior Health Care Portfolio Buy

John Jordan |

The second tranche of the purchase involves an unidentified property that is currently under construction. When the purchase of that property closes, the deal will bring the total five-property portfolio to change hands at 531 units and the total purchase price at $130 million.

News

Controversial Utah Student Housing Project Breaks Ground

John Jordan |

The project now named The Green on Campus Drive, reportedly valued at approximately $100 million, will consist of five buildings with 1,605 beds—single-occupancy rooms for residents—as well as a parking structure.

Salt Lake City, the Newest Tech Hub

Kelsi Maree Borland |

Collective Medical moves its headquarters to Salt Lake City, the latest news in the growth of tech industries in the market.

News

Bridge Investment Group Affiliate Acquires Nine-Property Senior Housing Portfolio

John Jordan |

The purchaser, an affiliate of Salt Lake City-based Bridge Investment Group, has added nine senior housing properties to its portfolio with the deal to acquire Somerby, which is headquartered in Birmingham, AL.