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CBRE announces sale of Quattro Apartment Community

Salt Lake City — The Salt Lake office of CBRE has announced the sale of the Quattro apartment community, a luxury development located on the perimeter of downtown Salt Lake City’s Central Business District. Eli Mills and Patrick Bodnar of CBRE represented the seller in the transaction.

A joint venture between Wadsworth Development, Wolverton Capital, and dbURBAN, Quattro is a 95-unit apartment development located at 385 East 400 South. The site is a Class A luxury development with a contemporary design aesthetic and quality construction finishes. The property has an exceptional walkability score of 91 and is a transit-oriented development located within three blocks of three TRAX light-rail platforms. On-site amenities include a top floor view deck with an open ceiling, fire pits, grill stations, and cozy seating; a Zen garden and yoga studio; a fitness center; and on-site bike and dog wash stations, among others. Each apartment includes private balconies, spacious open floor plans, quartz countertops, large windows allowing for abundant natural light, and full-size washers and dryers.

“Utah was the fastest-growing state over the last decade, has the youngest population in the country, and is still the most diverse economy in the nation. These indicators factor into Salt Lake’s attractiveness to young, educated professionals—the very demographic that Quattro was developed for,” stated Patrick Bodnar, first VP.

Eli Mills, SVP, further adds, “Quattro has elevated Salt Lake’s apartment experience to a new level—one that offers high-end finishes with high-class amenities. Coupled with the vibrant urban lifestyle available downtown, Quattro is poised to capture the strong rent growth in the market.”

The Property was purchased by Walton Street Capital, a private equity real estate firm founded in 1994, and based in Chicago.