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Acacia Pays $54.5M for Multifamily in Salt Lake Area

ARA Handles Trade of 492-Unit Fairstone at Riverview Apts.
December 3, 2012
Acacia Capital Corp. acquired Fairstone at Riverview, a 492-unit apartment complex in Taylorsville, UT, from Thompson Michie Associates Inc. for nearly $54.53 million or $110,800 per unit.

Fairstone at Riverview is a 461,226-square-foot community of 21 buildings at 4341 S Riverboat Road. Its amenities include a fitness center, tennis court and pool. The property is on 28.61 acres in the Central Valley submarket.

Jed Millbum of Apartment Realty Advisors represented both sides.

Please refer to CoStar COMPS #2598558 for more information on this transaction.
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