$12.8 Million Multifamily Sale in Utah Arranged by Marcus & Millichap

Broadway Place Apartments, 556 East 300 South, Salt Lake City, UT

Daniel Shin

SALT LAKE CITY, UT  – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Broadway Place, a 73-unit senior living apartment property in Salt Lake City.

            Daniel Shin, a senior associate in Marcus & Millichap’s Salt Lake City office, represented the buyer, a limited liability company.

            “Well-located properties in Salt Lake City like Broadway Place are attracting a high degree of investor interest as out-of-state buyers, especially those from the West Coast, are expanding the buyer pool and chasing higher first-year yields than those found in coastal markets,” says Shin. “Demand for seniors housing units is also intensifying, thanks to a rapidly improving housing market.”

The property is located at 556 East 300 South in Salt Lake City’s central city historic district.

Built in 2012, the 78,330-square-foot Broadway Place is a pet-friendly community that provides residents with 24-hour emergency maintenance services, secure underground parking, a garden courtyard, a large social room and a discounted Internet and satellite TV package.

Apartments feature nine-foot ceilings, TV and data outlets in the living room and bedrooms, washer and dryer, built-in microwave and dishwasher and private patio or balcony.

For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716