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Institutional Property Advisors Closes Salt Lake City Metro Area Multifamily Asset Sale

March 11, 2024
SANDY, Utah, March 11, 2024 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Meridian Heights, a 96-unit apartment property in Sandy, Utah.

“The acquisition gives our buyer the opportunity to add value to a well-located multifamily asset in the Salt Lake City metro area, a region fueled by the fastest-growing job market west of Texas,” said Danny Shin, IPA senior managing director. Shin and Brock Zylstra, IPA senior vice president investments represented the seller, Tablerock Capital, and procured the buyer, Orion Real Estate Partners. “New job opportunities are contributing to population growth in a market where the increased cost of owning a single-family home supports demand for multifamily housing,” said Zylstra.

The property is less than one mile from Interstate 15, which connects residents to major economic centers throughout the state. Shopping and entertainment are nearby at Southtown Mall, Fashion Place Mall, Murray Golf Course, and America First Field. The historic Sandy light rail station, which provides service from Downtown Salt Lake City to Draper, is within walking distance.

Built in 1998 on five acres, Meridian Heights’ unit mix is all one- and two-bedroom apartments with air conditioning, dishwashers, and balconies. Community amenities include covered parking, a clubhouse and laundry room.


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About Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit

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