Lookout Pointe Apartments just sold
Provo– The Nielsen Jensen Investment Team just sold the Lookout Pointe Apartments, a 115-unit apartment complex in an irreplaceable hillside location in Provo, Utah that overlooks Brigham Young University and has expansive views of Utah Valley.
The property went under contract in mid-March after state lockdown initiatives were put in place due to the spread of COVID-19. The transaction progressed strongly through the following months, with rent collections and market conditions being closely monitored, and was ultimately completed in mid-June.
“This is a deal I will never forget,” said Mark Jensen. “It was an adventure to put a 115-unit multifamily property under contract in the middle of the pandemic and close it in June. Throughout the process, all parties stuck with it and were aligned to get this across the finish line. I’ve never been more excited about the long-term strength and upside of this amazing and irreplaceable location.”
Provo City has been consistently recognized as one of the nation’s top economies and has been named one of Outside Magazine’s greatest places to live in America, with excellent access to trails, rivers, mountains, and lakes. The city has also been recognized for its continued growth and continues to experience investor interest due to its projected resilience from any potential long-lasting pandemic effects.