Salt Lake City—March 12, 2018—The Salt Lake City office of CBRE has announced it will be marketing for sale the 4th West Apartments (4th West), a 493-unit luxury apartment community in downtown Salt Lake City. Completed in 2017, 4th West has been positioned to appeal to Salt Lake’s most affluent residents. Patrick Bodnar and Eli Mills of CBRE have been retained to represent the seller, Salt Development.
4th West’s architecture and design has raised the bar on apartment development in Utah. It is a multifamily community with ultra-high-end finishes and unrivaled amenities, complete with a roof-top sky lounge including a zero-edge pool and a clubhouse overlooking the Salt Lake City skyline. There are also plans to bring street-level retailers to the site.
“Salt Lake is a top-of-mind investment market for institutional, private equity and high net-worth family offices. With its superior design and state-of-the-art amenities, 4th West rivals many luxury multifamily assets in the western United States, offering a unique investment opportunity within the local marketplace,” commented Bodnar. “Listing this property will allow us to showcase Utah’s incredible market, piquing the interest of more investors and increasing the flow of capital into the state.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Salt Development
Salt Development, founded by Thomas Vegh and Brian Hobbs, specializes in developing best-in-class living and working environments. They possess a passion for creating superior properties with unparalleled design and function as evidenced by 4th West being awarded Winner of the 2017 Most Outstanding Project (Utah Construction and Design). www.4thwest.com.