Windsor

Monterra is under contract to acquire Windsor Apartments, an 18-unit multifamily property in Salt Lake City’s Central City neighborhood.

The property was substantially renovated in 2019 and requires no immediate capital expenditures. The business plan involves meaningful NOI upside through operating expense reductions and increasing other sources of income. Financing will be non-recourse via Freddie Mac, with sponsor-provided guarantees.

The business plan doesn’t contemplate a refinancing of the initial acquisition loan. To preserve asset value and sustain rental rates, we plan to execute minor cosmetic upgrades upon unit turns,such as replacing light fixtures, plumbing fixtures, hardware, and painting.

Any such improvements will be funded with NOI. We expect to hold the asset for 4-5 years. Closing is slated for late June 2026.

Monterra will be accepting commitments through early June. Contact us to learn more about this opportunity.