June 26, 2014

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Executive Living
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

New Class A Multifamily Development Coming to Downtown Salt Lake City

Press Release

June 26, 2014

Salt Lake City – Newmark Grubb ACRES announced a partnership with Grey Oak, LLC and Wasatch Advantage in the acquisition of 1.51 acres near 400 South in downtown Salt Lake City.  The development, called Encore, will consist of a 189-unit, class A multifamily community.  The group of six parcels is located on the north side of 400 South between Denver Street and 500 East. 

The transaction closed at a record high price for multifamily developments and will provide the buyer the opportunity to capitalize on developing a high-profile site in Salt Lake City. Newmark Grubb ACRES investment specialists, Mark Jensen and Greg Ratliff, are active in the downtown area and identified the highest and best use for the parcels. 

Another strategic condition of this transaction required the buildings to be vacated prior to closing.  Jensen and Ratliff were instrumental in facilitating this process alongside Grey Oak and Wasatch Advantage.

“We’re lucky in Utah to have amazing people,” said Jensen. “In this case we had an amazing seller and a great group of buyers.  The timing just worked out so that everyone’s needs were met.  Transactions like these evolve through solid relationships based on trust and then executing real estate transactions that accomplish the client’s goals.  Ultimately this deal came down to being lucky enough to work with an excellent and capable buyer and being lucky enough to have a patient and visionary seller.” 

Utah Business Social
UB Events View All
2014 Fast 50 EventUtah Business Event
Aug 28, 2014
Utah Business magazine along with presenting sponsors Kirton McConkie, CBIZ, MHM, LLC and Newmark...
Community Events View All
2014 MWCN / UTC / UVEF / WBI August Joint Luncheon
Aug 21, 2014
Keynote Speaker: Tiffany Peterson, International Business Coach, Speaker, and founder of The Lig...
2014 MWCN / UTC / UVEF / WBI August Joint Luncheon
Aug 21, 2014
Keynote Speaker: Tiffany Peterson, International Business Coach, Speaker, and founder of The Lig...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel