Centerspace acquires 341-unit Sugarmont Apartments in Salt Lake City for $149M ($437K/unit) from Cottonwood Residential

6/18/2025

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REBusinessOnline

• Subcategory: MF: Market Rate

• Tag: Sale

• Additional Filters-Subcategory: MF: Midrise

• Company: Northmarq, Centerspace (NYSE: CSR), Cottonwood Residential

Centerspace (NYSE: CSR) has purchased Sugarmont Apartments, a Class A mid-rise multifamily property in Salt Lake City’s Sugar House neighborhood, from Cottonwood Communities for $149 million. Centerspace has retained Cottonwood as property manager for the asset, which is located at 2191 S. McClelland St.