AMERICAN FORK, UTAH — Gelt Venture Partners (GVP) has acquired Alvera at the Meadows in American Fork, about midway between Provo and Salt Lake City. The seller was a joint venture between Woodbury Corp., Garbett Homes and Cirrus Group. The 142-unit property was developed in 2021 on about 4 acres. It features a mix of one-, two- and three-bedroom floor plans and such amenities as a pool and hot tub, a fitness center, clubhouse, package lockers and a playground. GVP is planning property upgrades during its hold. Brock Zylstra and Daniel Shin of Institutional Property Advisors IPA) represented both the buyer and the seller in the transaction. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA Capital Markets arranged acquisition financing. GVP also acquired The Commodore, a 92-unit property in National City, California, in early August.
Alvera at the Meadows is a 142-unit asset developed in 2021 in American Fork, Utah. Gelt Venture Partners has acquired the property.
Gelt Venture Partners Acquires 142-Unit Property in American Fork, Utah
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