Falls at Hunters Pointe represents TruAmerica’s sixth investment in the Salt Lake MSA and thirteenth acquisition of 2021. The Property is a substantial value-add opportunity as 250 of the apartment homes remain unrenovated or lightly renovated. TruAmerica will renovate all units to a consistent, premium finish level, creating a high-end feel for future residents. TruAmerica also plans to make targeted, accretive improvements to exteriors and amenity spaces. Amenity improvements will include clubhouse renovations, landscaping, playground renovation, pool furnishings, signage, exterior paint, and fitness center upgrades. These renovations will improve the current resident lifestyle and foster a more attractive image to prospective renters.
Falls at Hunters Pointe is located in the city of Sandy and is directly adjacent to major retail centers anchored by Scheels Sporting Goods, Costco, Best Buy, Home Depot, Buffalo Wild Wings, Shake Shack, Habit Burger Grill, The Original Pancake House, and Blue Lemon. The Property’s location is central to the Silicon Slopes, Utah’s high-tech employment sector, providing several high-paying employment options in the technology industry. The Property is also directly adjacent to Interstate 15 and only a few miles from two UTA TRAX light-rail stations. These major transportation options provide uninterrupted reach to prominent employment hubs including downtown Salt Lake City, Draper, Lehi, and Provo. Additionally, the property is a short twenty-minute drive from Salt Lake City International Airport, which is currently undergoing a $4.1B renovation.
Sandy is one of the most sought-after locations and communities in the Salt Lake Metro, positioned squarely in the hotbed of Silicon Slopes. The Property is perfectly positioned for residents to easily access major regional retail such as Fashion Place Mall, grocery stores, dining, the local Major League Soccer stadium Rio Tinto, and the Hale Centre Theatre. Falls at Hunters Pointe is also located within a 1-hour drive of ten world-class ski resorts, offering easy access to winter recreational activities such as skiing, snowshoeing, and snowmobiling. The mountains also provide hiking, mountain biking, and rock-climbing opportunities for all skill levels during the summer months.
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