Murray Ridge is a 247 unit garden style apartment community, located minutes away from Salt Lake City's CBD. Bascom increased rents by taking advantage of the property location while addressing shortcomings in its performance by renovating interiors with higher-end appliances and finishes, adding washer & dryer hookups, completing cosmetic exterior renovations and installing an institutional quality management team. These efforts allowed Bascom improve occupancy, rental rates, and financial performance.

City
Salt Lake City, Utah
Units
247
Renovation Budget
$3.1M (12,500/ unit)
Debt Partner

Babson Capital

Equity Partner

Babson Capital- Mezz