Marcus & Millichap Brokers $51.4M Sale of 277-Unit Community in Utah

DRAPER, Utah — Marcus & Millichap (NYSE: MMI) has arranged the sale of Rosegate Draper, a 277-unit age-restricted multifamily asset in the Salt Lake City suburb of Draper. 

A local developer and owner sold the community to Kennedy Wilson, a California-based global real estate investment company, for approximately $51.4 million. The price equates to $185,379 per unit.

Built in 2015, the five-story community features all one- and two-bedroom units and offers space for full-service facilities.

Marcus & Millichap’s Danny Shin and Brock Zylstra represented the seller in the transaction.