May 20, 2024

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Wasatch Group JV Secures Financing of $160M

1 min read

This is the largest C-PACE transaction to date.

The joint venture between Gardner Group and Solamere CapitalWasatch Group received $160,000,000 in Commercial Property Assessed Clean Energy funding to build Summit Vista in Taylorsville. D.A. Petros PACE Finance and Davidson’s Special District Group priced and closed this transaction, marking the largest C-PACE to date.

The proceeds will be used to continue construction on the property with a focus on energy-efficient features, such as renewable energy, water efficiency and energy efficiency.

Summit Vista is located at 3390 W. Signal Peak Drive and has nearly 1,600 units of independent living, assisted-living, skilled nursing, and memory care. Utah’s first retirement community, the Life Plan Community, offers one- and 2-bedroom floorplans that range between 822 square feet and 1,588. The amenities in the common areas include a pool, hot tub, fitness center, art studio, library, convenience store, outdoor garden areas, and a convenience shop. Medical care is available in the community, as well as transportation on and off site, security, and cleaning services.

The Senior Housing is located approximately 13 miles south from downtown Salt Lake City. The property is located near several dining options, shopping centers, and transportation corridors such as Route 154 or Interstate 215.

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