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Roers Companies to Develop 264-Unit Res Project in Salt Lake City

9/07/22

Roers Companies has obtained a $61.8 mil loan to finance the ground-up development of 375 West Whitney Avenue, a six-story, Class A, multifamily project comprising 264 units and located in Salt Lake City, UT. The loan was originated by Square Mile Capital Management LLC.

375 West Whitney, upon delivery, will include 12 studios, 157 one-bedroom, 90 two-bedroom, and five three-bedroom units. The units will have quartz countertops, stainless steel appliances, LVT flooring, and expansive views. Community amenities will include a rooftop sky lounge and club room with mountain views, golf simulator, group/game room, fitness center, yoga studio, underground parking and outdoor pool.

The property is located within the People’s Freeway submarket of Salt Lake City, situated between Downtown Salt Lake and South Salt Lake. The site benefits from convenient access to the rest of the Salt Lake Valley via the TRAX light rail network, and the project is located about three blocks southwest of the Ballpark light rail station which services the Red, Green, and Blue Line, connecting the project with Downtown Salt Lake City, the Salt Lake International Airport, and the University of Utah, which has over 33,000 students and 11,000 employees.

Roers Companies is a full-service real estate development firm, based in Minneapolis, MN, that has developed 50 properties totaling 5,400 units. Gary Sefcik and Phillip Gause with Marcus and Millichap arranged the loan.




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