Artemis Real Estate Partners and Preserve Partners have formed a joint venture to acquire Enclave at Redwood, a 486-unit apartment community located in West Valley City, Utah. The purchase was made possible with the help of Berkadia securing a $67.8 million acquisition loan from Freddie Mac on behalf of the buyers.
According to Commercial Edge, TruAmerica Multifamily previously owned the property after acquiring it as part of a larger portfolio deal worth $102 million in 2015.
Enclave at Redwood spans across 27 acres and consists of ten two-story buildings. The units range from one- to three-bedroom layouts ranging from 720 to 1,500 square feet. Residents can enjoy amenities such as a swimming pool, sundeck, basketball court, outdoor lounge with fire pit and pet grooming station. There is also grade-level parking available for residents with over 580 spots available on-site.The new owners plan to enhance the amenity package for residents moving forward.
The complex is conveniently located at3810 S Redwood Road near Interstate215with Murray Central Station only four miles away providing easy access via Blue andRed Linesand FrontRunner trains connecting West Valley Cityto Salt Lake City which is less than nine miles north.
