Safehold Inc. has paid $26.5 million for the ground beneath the proposed 180-unit One Burton apartment complex in downtown South Salt Lake, Utah. The acquisition effectively provides the property’s developer, Abstract Development Group of New York, with low-cost capital for the property. Instead of lining up relatively high-cost equity, proceeds from the sale of the […]

The post Safehold Pays $26.5Mln for Fee Interest in Proposed Salt Lake Apartment Project appeared first on Commercial Real Estate Direct.