NB Private Capital Sells Land Parcel Near Utah Valley University Creating Nearly 80 Percent Return to Investors
February 6, 2019
ALISO VIEJO, Calif. & OREM, Utah–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/investment?src=hash” target=”_blank”gt;#investmentlt;/agt;–NB
Private Capital, a Southern California-based real estate investment
firm, has sold a 6.1 acre parcel of land known as University Downs in
Orem, Utah near Utah Valley University (UVU) for $10.5 million. The
company purchased the property in October 2015 for $5.5 million with the
intent to capitalize on UVU’s rapidly expanding enrollment. Utah Valley
University is the largest public university in the state of Utah and
experienced 7.1 percent enrollment growth over the last fall semester,
according to the UVU
website.
“This sale highlights our core strengths as specialists in student
housing,” said Blake Wettengel, NB Private Capital CEO. “Investment
capital has been chasing Tier 1 schools for the last couple of years
while we have been focusing on Tier 2 and 3 markets. The very same
macro-economic drivers that made the big name schools the targets last
year will potentially exist in markets like Orem next year and the years
beyond. We believe our investors may continue to benefit from this trend
as we execute our targeted objectives ahead of the coming swell of
institutional and international attention.”
University Downs’ development site is located across from UVU directly
off the Interstate 15 freeway and the Orem Frontrunner Commuter rail.
The land will likely be the future site of one of the most densely
populated housing developments in Utah.
“University Downs ticked all the boxes: a fast-growing school,
affordable education and campus adjacent,” said NB Private Capital
President Brian Nelson. “With rampant growth in construction costs in
Utah County and several new projects coming online, we felt the most
potentially beneficial play to target maximizing our investors’ return,
while mitigating risk, was to sell the property while the market is
flourishing.”
For more information about NB Private Capital, LLC, visit www.nbprivatecapital.com.
About NB Private Capital
NB Private Capital, LLC, offers individual investors direct ownership
interests in institutional quality, professionally managed real estate.
The company, founded by Brian Nelson, focuses on well-positioned,
income-producing properties, targeted growth opportunities and
value-added investments for its clients through capital improvements,
cost efficiency, and revenue maximization. NBPC specializes in the
acquisition, financing, and ownership of real estate investments in the
niche area of student housing. NBPC currently manages over $600 million
in multi-family housing real estate.
All investment involves risk of loss of some or all principal invested.
Past performance is not indicative of future results. There is no
guarantee that any investment model will perform as targeted. Securities
offered through Emerson Equity, LLC, Member FINRA/SIPC.
NBPC and Emerson Equity LLC are not affiliated.
Contacts
MEDIA:
Janet Cook
VP of Marketing
(949) 540-9343
janet@nbprivatecapital.com