The Brookmont Apartments in St. George, was recently acquired by Vintage Capital Partners. Brookmont is ideally located on the corner of 900 East and 400 South immediately adjacent to DSU Campus and The Vintage at Canyonlands.
With Dixie State now a 4-year University which sits diagonally across the street, The Brookmont Apartments was an ideal acquisition for the Buyers.
Dixie State University’s projected enrollment growth has incentivized both new student housing development and reinvestment in existing units. While maintaining ownership in two other local student housing properties, the sellers intend to use the sale proceeds to diversify their portfolio.
Brookmont will be managed by Redstone Residential, a student housing property manager with over 10,000 beds under management.
Neil Walter with NAI Excel represented both Buyer and Seller in the transaction. For more information about Brookmont, please contact Redstone Residential at www.redstoneresidential.com.