Safehold Closes First Multifamily Transaction in Salt Lake City with One Burton Apartment Community in New Downtown District
SALT LAKE CITY, UT - Safehold, the creator and leader of the modern ground lease industry, has closed on a $26.5 million ground lease to facilitate the ground-up development of One Burton, a fully amenitized 180-unit multifamily project located in South Salt Lake's new downtown district. The Qualified Opportunity Zone project will be developed by a new Safehold customer, ABSTRACT Development Group, an affiliate of a large New York based multifamily real estate owner.
Source: multifamilybiz.com
