PRESERVE pursues value-added investment opportunities, purchasing properties it can reposition to deliver predictable increases in cash flow and improve exit alternatives. The Company is dedicated to building attractive, contemporary and sustainable communities, while serving both our residents and investors with thoughtful value creation.

 

The Company’s investment strategy is to create a high quality portfolio of renovated Class B+ apartment complexes in the Salt Lake region. Investment criteria include factors such as local employment drivers, public transportation, walkability, supply constraints, replacement cost and property functionality. Preserve’s competitive advantage is derived from the knowledge and operational efficiencies gained by the team being domiciled in Salt Lake City, and singular investment focus on the Salt Lake City MSA.

PRESERVE’s strategy in the Salt Lake market is one of careful, conscious and consistent value generation. Rather than operating in high beta markets, incorporating “home run” mentality, the Company’s investment thesis is to create a superior product, offered at a significant discount to both replacement cost and other properties in its comparable set.

 

Available Properties

 

THE ACADIA

42 Units

760 South 900 East
Salt Lake City, UT 84102

Located in the heart of 9th and 9th, one of Salt Lake City's most vibrant districts, The Acadia offers luxury finishes at rents significantly lower than average rents in the submarket. PRESERVE has created open concept layouts, with the high-end finishes, including island-style range hoods, LG combination washer/dryers, central air, quartz countertops, stainless steel appliances, porcelain tile shower surrounds and backsplashes, all of which create a distinctively modern living experience in an established neighborhood such as 9th and 9th

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THE ARCHES

30 Units

171 W 300 N & 221 N. Quince St.
Salt Lake City, UT 84103

Three blocks from Temple Square, these downtown Salt Lake apartments offer residents a combination of location and quality at an affordable price. Fully renovated studio and one-bedroom apartments at The Arches feature modern conveniences, including microwave hoods range hoods, LG combination washer/dryers and central air conditioning. Restored original hardwood flooring and built-in cabinetry add charm and a homey feeling unavailable in new construction. Quartz countertops, stainless steel appliances, porcelain tile backsplashes and shower surrounds combine to make a distinctively modern living experience very rare in a historic neighborhood.

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THE CALAVERAS

142 Units

7940 South Main Street
Midvale, UT 84047

The new two-bedroom apartment complex is less than a mile from Bingham Junction TRAX and View 72 corporate center and its numerous restaurants, bars and other attractions, including Utah’s only TopGolf Experience. Offering the most modern apartments in Midvale, The Calaveras boasts a state of the art fitness center, Amazon Parcel Services and a multi-million-dollar exterior and interior renovation. Apartments feature quartz countertops, stainless steel appliances, new cabinets and combination washer/dryers in every unit.

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THE JOSHUA TREE

121 Units

3343 S 1300 E
Millcreek, UT 84106

The Joshua Tree has been transformed into one of Millcreek’s most exclusive and high-end apartment complexes. Fresh from a multi-million-dollar revamp, The Joshua Tree offers a state-of-the-art fitness center, yoga center, and community lounge. The Joshua Tree is singular in offering a modern swimming pool complete with outdoor firepits and a distinct mid-century aesthetic. Units have all the modern conveniences one could want, including island-style range hoods, LG combination washer/dryers and central air. Quartz countertops, stainless steel appliances, porcelain tile backsplashes and shower surrounds complete a distinctively modern living experience that is rare in the sub-market.

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THE PINNACLES

123 Units

1303 N 400 E
Logan, UT 84341

The Pinnacles is located downtown, less than five blocks from Utah State University and steps from Inter Mountain Health Care. Renovated one and two bedroom apartments are among the most affordable in Logan. Features include new appliances, vinyl plank flooring, contemporary fixtures and upgraded hardware. Amenities will offer a business and internet lounge, laundry facility and dog park.

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THE SHENANDOAH

74 Units

380 3360 S
South Salt Lake, UT 84115

The Shenandoah has been transformed into one of South Salt Lake’s most modern apartment communities. Fresh from a multi-million-dollar revamp, The Shenandoah offers hard to find amenities, including custom outdoor fire pits, stainless steel gas grills and bocce-ball courts. PRESERVE has created open concept layouts, with the most high end finishes available in Salt Lake. Units have all modern conveniences such as island-style range hoods, LG combination washer/dryers and central air. Quartz countertops, stainless steel appliances, porcelain tile backsplashes and shower surrounds complete a distinctive modern living experience rare in a established neighborhood. 

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The Yellowstone is one of Salt Lake City’s most historic multifamily properties, financed by the Coveys and built by E.C.A Vissing. The Yellowstone features period details such as coved nine- foot ceilings, old-growth maple hardwood floors and ornate woodwork and has the opportunity to develop an additional ~80 units on its 3 acre parcel. We plan to preserve and restore all of the important original elements while updating mechanicals and adding modern conveniences such as HVAC, triple-pane windows and energy efficient fixtures throughout. The exterior of the Yellowstone will undergo a complete historical restoration, as well as a seismic retrofit to ensure the property continues to serve SLC residents for yet another century.

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THE YELLOWSTONE

111 Units

155 E 1st Avenue
Salt Lake City, UT 84103