Cobblegate at Quarry Bend

December 13, 2016 Comments Off on Cobblegate at Quarry Bend Buy Assisted with $69M Loan Views: 286 California News, National News, Southwest, Utah, West

Cobblegate at Quarry Bend Buy Assisted with $69M Loan

Mesa West Capital originated a $69.1 million loan, that assisted a ColRich Multifamily-led joint venture in the acquisition of Cobblegate at Quarry Bend, a new, 416-unit multifamily property in Sandy, UT. Overall, seller Miller Development Co. received $93.9 million for the asset.

Located at 903 E. 9000 S., the Salt Lake City-suburban apartment complex offers one, two and three-bedroom units with full-size washer and dryer. Community amenities include a large clubhouse with recreation room and fitness center, barbecue areas, resort-style pool and children’s playground. The property was 50% occupied at closing.

The five-year, floating rate, non-recourse loan originated out of the Mesa West Real Estate Income Fund IV, LLC, part of a family of funds managed by the Los Angeles-based private lender.

Connect with Mesa West Capital

Connect with ColRich Multifamily

For comments, questions or concerns, please contact Amy Sorter

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , ,

Comments are closed.