Artemis Real Estate Partners and Preserve have joined forces with Berkadia to acquire the Enclave of Redwood, a 486-unit apartment complex located in West Valley City, a suburb of Salt Lake City. The two companies have announced plans to enhance the property’s amenities and interiors. To finance this acquisition, they secured a $67.8 million loan from Freddie Mac.
The deal was led by Greg Barratt from Berkadia’s Salt Lake City team who represented the seller. Patrick McGlohn, Brian Gould and Michael Slovitt were responsible for securing financing for this project.
Enclave at Redwood is situated at 3810 S Redwood Rd and offers high-quality multifamily housing with 486 units ranging from one- to three-bedroom options in a garden-style setting. Built in 1985 on an expansive 27-acre plot of land, the property boasts various amenities such as a pool, sundeck with cabanas, sports court including basketball facilities , outdoor lounge area complete with fire pit , pet grooming station and park , covered parking spaces,and package lockers . This recent acquisition marks another successful venture for Artemis Real Estate Partners,Preserve,and Berkadia as they continue their efforts towards providing top-notch living experiences across different markets.
