Wednesday, July 4, 2018

29th Street Capital Acquires Twin Trees Apartments; Community is Firm’s First Salt Lake City-Area Acquisition


Twin Trees Apartments, Layton, Utah
Layton, Utah  – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Twin Trees Apartments, a 43-unit multifamily community in Layton, Utah. 
29SC plans to invest approximately $10,000 per unit in capital improvements, including upgraded countertops, cabinets, floors, appliances, lighting and fixtures. Exterior projects will include better landscaping, new heating and air conditioning units and curb appeal enhancements. 
The property is situated about 20 miles north of downtown Salt Lake and is alongside I-15.
McKay Winkel

 “Twin Trees is an exciting first deal to establish 29th Street Capital’s presence in the Salt Lake area,” said McKay Winkel, Vice President of Acquisitions for Salt Lake City. “The submarket has tremendous population growth in addition to several other attractive metrics.”
 Salt Lake City has recently earned excellent rankings in a number of areas.

Wallethub ranked it #1 for the most job opportunities; The Urban Land Institute placed it as the #2 best location in the U.S. to buy multifamily real estate; Forbes calls it the #3 American city where employees are happiest.
  “The Layton submarket is poised for continued growth and improvement as the forward momentum of downtown Salt Lake City flows outward,” Winkel added. “We will execute 29SC’s business plan and offer the Layton submarket a higher-quality housing alternative.” 
 The transaction closed June 29. The sale price was not disclosed.
 For investment inquiries, contact:
Stan Beraznik, Founder and Managing Principal at 29th Street Capital
For more information, please contact:



Terri Thornton

Partner, Thornton Communications

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