Mountain States Properties has completed the sale of Seasons of Traverse, a large-scale apartment community in Lehi, Utah, in a transaction valued at $130 million. The deal involves 440 apartments and is described as the largest widely marketed multifamily sale on record in Utah County, underscoring the profile of the asset and the market attention it received.
Seasons of Traverse, also referred to as Seasons of Traverse Mountain, is located at 4200 North Seasons View Drive in Lehi. The community consists of multiple four-story residential buildings that were completed in 2014, placing the property firmly in the modern, institutional-quality segment of the local multifamily stock. The scale of the asset and its relatively recent vintage made it a notable offering within northern Utah County.
The property features a diversified unit mix totaling 440 residences. According to information released with the transaction, the community is composed of 222 two-bedroom units, 168 one-bedroom units, and 50 three-bedroom units. This range of layouts positions the community to serve a variety of renter household types, from singles and couples to larger households seeking additional bedroom count.
On the capital markets side, Cushman & Wakefield advised Mountain States Properties as the seller. The brokerage team included Kip Paul, Kevin Donner, Michael King, JT Redd, James Hunsinger, and Katie Goldberg, all of whom represented Mountain States Properties in the disposition. The buyer in the transaction is Weidner Apartment Homes, a multifamily investment firm that acquired the property as part of this $130 million trade.
Marketing of the asset drew interest from a broad array of investors. Cushman & Wakefield reported that nearly 30 offers were submitted by both institutional and private investors from across the United States. This level of bidding activity highlighted what was characterized as a rare opportunity to acquire 440 units in a single transaction in the heart of rapidly growing northern Utah County.
Lehi itself was noted as one of the fastest-growing markets in Utah, providing important context for the transaction. The city sits within northern Utah County, an area that has been experiencing substantial population and economic expansion. In that setting, an institutional-scale, 2014-vintage multifamily asset of this size presented a distinctive entry or expansion option for investors targeting the region.
The combination of record-setting scale for a widely marketed multifamily sale in Utah County, strong buyer interest, and a growth-oriented local backdrop positions the Seasons of Traverse transaction as a meaningful data point for the multifamily investment landscape in northern Utah.
