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11/19/21
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DB Capital Management bought Twin Trees Apartments, a 43-unit multifamily community located at 275 South Fort Lane Blvd in Layton, UT, approximately 20 minutes north of Downtown Salt Lake City. A price was not given out.
Built in 1997, the property, which will be rebranded as Summit at Layton, is made up almost entirely of three-bedroom townhome-style units. DB Capital plans a capital improvement program that will enhance the building exterior, unit interiors and community amenities.
Located in Davis County, Layton is a thriving community in the heart of Northern Utah that USA Today ranked tenth on its list of America’s Best Cities to Live. The market’s low cost of living and growing job market has resulted in impressive population growth creating strong demand for quality rental housing and Q2 2021 year-over-year rent growth of 14.1% ranking highest in the state.
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