Utah Townhome Community Receives $17M Construction Loan
- Jan 29, 2019
Trez Capital has closed a $17 million loan for JF Capital to begin work on a Class A multifamily property encompassing 79 townhomes in Ogden, Utah. Dubbed Moda Vista, the property is set to begin leasing in the fall.
Located at 5030 Harrison Blvd., Moda Vista will provide easy access to major employment centers—including downtown Salt Lake City—but also Weber State University, museums, parks and outdoor recreation like skiing and hiking at Mount Ogden. Plans call for a property that includes a clubhouse and pool, fire pit, tot lot and open space with a sidewalk trail throughout.
“…With low unemployment and continued growth, we expect the demand for Class A multifamily properties to remain strong,” said Jason Stowe, vice president at Trez Capital, in prepared remarks.
Late last year, Trez Forman—a Trez Capital company—provided a $49 million construction loan for H3 Hollywood, 15-story, 247-unit luxury apartment building in northern Miami.
Image courtesy of Trez Capital