June 2, 2020 Comments Off on Utah Valley Multifamily Asset Sold by Institutional Property Advisors Views: 467 Phoenix & Southwest News, Southwest News

Utah Valley Multifamily Asset Sold by Institutional Property Advisors

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Roundhouse acquired The Alloy at Geneva, a 324-unit multifamily asset within Geneva, a master-planned community in Vineyard, UT. Institutional Property Advisors (IPA), a division of Marcus & Millichap, handled the deal on behalf of the seller, affiliates of Dekel Capital and Mountain Capital Partners.

Built in 2015 on 15 acres, the 314,562-square-foot property is composed of 14 three-and four-story residential buildings and a clubhouse. The property is situated within the 1,700-acre Geneva community, the former site of the Geneva Steel Co., about 10 miles northwest of Provo, along Utah State Route 114.

IPA’s Brock Zylstra, Steve Gebing, Cliff David and Danny Shin brokered the deal. Zylstra says, “The Alloy at Geneva is a condominium-quality asset with a well-balanced mix of lifestyle amenities located in the fastest-growing city in the nation.”

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