Updated Jul 2, 2025
Bridge Investment Group, Blaser Ventures & Lowe Property Group Secure $170M Fannie Mae Refinance For 580-Unit Apartment Complex In Salt Lake City
570 300 West
$170,000,000
Units
580
Asset Type
MultiFamily
Closing
Jun 30, 2025
About this deal
AI
The property asset involved is a 580-unit multi-family apartment complex located at 570 South 300 West, Salt Lake City, UT. This transaction involves a refinancing loan amounting to $170,000,000, facilitated by Fannie Mae.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $170,000,000
- Lender: Fannie Mae
- Landlord: Bridge Investment Group, Blaser Ventures & Lowe Property Group
- Broker Representatives: Aaron Appel, Sean Reimer, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly & Jackson Irwin - Walker & Dunlop
- Loan Type: Refinance
- Previous Refinance Amount: $157,500,000
- Previous Refinance Date: November 2023
The transaction was arranged by Walker & Dunlop, representing the landlords in securing the refinancing for Post District. This marks the second refinance for the apartment complex, following the prior refinancing conducted in late 2023.
On the Map
$170,000,000
MultiFamily
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Players
Salt Lake City MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93