Weidner Expands Salt Lake City Portfolio
Apartment houses Weidner purchased Citifront Apartments, a 166 unit asset in Salt Lake City. CBRE sold the property, which previously belonged to Management of bridge ownership.
Completed in 2003, Citifront comprises three retailers and 166 residential units. The property spans four floors, spanning 3.3 acres and includes studios, one, two and three bedroom apartments ranging from 345 to 1,081 square feet. Floor plans offer kitchens with full appliance packages, private balconies, built-in washers and dryers, plus central air conditioning.
Citifront Apartments is a pet friendly community that also includes a pet park. Community amenities include a clubhouse, fitness center, outdoor pool and hot tub, playground, business center, and covered parking.
Located at 641 W. North Temple, in the Depot District, the property is less than one mile from The Gateway, which offers more than 100 shops and restaurants. Citifront is located 10 minutes from several entertainment and shopping venues, including the Utah Museum of Contemporary Art, City Creek Mall and Vivint Arena. City Creek Park is also 5 minutes from the community.
Citifront Apartments marks Weidner’s sixth property in Utah, with a total portfolio of more than 1,400 units, according to data from Yardi Matrix. After a lukewarm 2020 due to the onset of the COVID-19 pandemic, Salt Lake City’s multi-family homes have more than regained ground lost last year, with rental growth reflecting the unprecedented national pace.