Land Acquisition Investment
351 Units in Downtown SLC
Project Description
Broadmark (NYSE: BRMK) provided the borrower with a loan to acquire an entitled 2.04-acre site in downtown Salt Lake City, Utah. Borrower intends to build a 351-unit apartment building located in the rapidly expanding Granary District. The proposed project will be five stories and includes structured parking. The property will also include desirable amenities: a rooftop sky lounge and club room with mountain views, a golf simulator, group/game room, fitness center, yoga studio, and outdoor pool. The site has great access to Interstate 15 and the commuter rail station. Proximity to grocery, shopping, restaurants, recreation, and other services in the downtown Salt Lake City area makes the site appealing for residents.
Loan Details
Salt Lake City, UT
June 2022
$8,750,000
Contact Information
Matt Hittson, Central Region
Tom Gunnison, Central Region
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