January 26, 2015
Peak Capital Partners, a Utah-based apartment investment and management company, today announced it acquired Northgate Apartments at the Gateway.
The community was purchased from a private owner. Financial terms of the transaction were not disclosed.
“This represents the 15th apartment community to be acquired by Peak in Utah,” said Jeff Danley, founder and managing partner of Peak Capital Partners. “Salt Lake City recently ranked No. 8 as one of the best U.S. cities to find a job. The city offers a diversified economy with one of the lowest unemployment rates in the nation. We are committed to adding to our Utah portfolio.”
Built in 2002, Northgate is a 330-unit apartment community. Peak plans to make exterior and interior improvements to the community that will include new flooring, cabinets and roofing. The community’s fitness center also will be upgraded with new flooring and equipment.
The community is located at 135 South 500 West in the heart of downtown Salt Lake City and offers three different floor plans ranging from one- and two-bedroom unit apartments. The location offers easy access to restaurants, shopping, major interstates and outdoor recreation opportunities.
About Peak Capital Partners: Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States. Founded in 2007, Peak Capital Partners owns 80 apartment communities in 17 states housing 14,000 families. Visitwww.peakcapitalpartners.com.
Peak Capital Partners
Jeff Burningham, 801-358-4517