Artemis Real Estate Partners and Preserve partners Berkadia acquired the 486-unit Enclave at Redwood in West Valley City, a suburb of Salt Lake City. The two companies say they plan to upgrade the property’s amenities and interiors. They obtained a $67.8 million Freddie Mac loan to acquire the property. Greg Barratt, who represented the seller, led the Berkadia Salt Lake City deal team. Patrick McGlohn, Brian Gould and Michael Slovitt led the Berkadia financing efforts.
Built in 1985, Enclave at Redwood spans 27 acres and includes amenities such as a swimming pool, sundeck with cabanas, sports court, basketball court, outdoor lounge with fire pit, pet grooming station and park, covered parking, and package lockers.
Berkadia is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Powered by deep relationships and industry-changing technology, our people sell, finance, and service commercial real estate, providing support for the entire life cycle of our clients’ assets. Our unique ownership structure allows us to put our clients’ interests first and create a marketplace that delivers a superior experience. We are driven by our closely held values, resulting in a people-first culture where every individual is empowered and accountable.
Artemis Real Estate Partners is an investment manager based in metropolitan Washington, DC, with offices in New York City, Los Angeles and Atlanta. Artemis has raised over $10 billion of capital across core, core plus, value-add and opportunistic strategies. The firm makes equity and debt investments in real estate across the United States, with a focus on residential, industrial, seniors housing, medical outpatient, self-storage, hospitality, retail, and office. Artemis specializes in joint venture partnerships and direct investments.
PRESERVE is dedicated to building attractive, contemporary and sustainable communities, while serving both our residents and investors with thoughtful value creation.
