Towers on Main

Towers on Main

Salt lake city, UT
Available
  • Property Type: Equity Solutions
  • Property Size: / 3.12 Acres / 174 Units

Overview

Capstone Equity Solutions is pleased to present a joint venture or preferred equity investment opportunity with Summit Capital Venture Group and Anthem Property Ventures in the acquisition and execution of a proven value add strategy for the Towers on Main. Towers on Main is a 174-unit mid-rise apartment complex in Salt Lake City, Utah, strategically located between the central business district and the popular Sugar House District. Only 14% of the unit interiors have been renovated, which provides an in-place value-add roadmap for incoming investors to raise rents to levels of nearby market competitors. Towers on Main is located just east of I-15 and less than a mile north of I-80, giving it superb accessibility and proximity to employment nodes in Downtown Salt Lake City, the University of Utah and the Sugar House District. The property’s existing rents are well below nearby apartment communities, providing the compelling opportunity to both organically raise rents, as well as achieve additional premiums as renovated units come available.

The principals at Summit and Anthem collectively have nearly 45 years of multi-family real estate investment experience. The team has also retained UV Residential, which has previous management experience with the property and currently manages three assets in the Salt Lake City market. UV Residential is based out of Denver, Colorado and manages 21 properties totaling nearly 5,000 units throughout the Western United States.

Contact Information

Bryse Toothaker Director P: 704.727.2926
O: 800.746.3175 ext. 703
bryse@capstone-companies.com
Kyle Kaylor Director P: 704.562.2232
O: 800.261.9464 ext. 718
kaylor@capstone-companies.com
Sean Henry Managing Director P: 404.694.0099
O: 800.746.3175 ext. 737
sean@capstone-companies.com
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