Colliers Arranges Sale of 429-Bed Community Near Utah Valley University

by Katie Sloan

Orem, Utah — Colliers International has arranged the sale of Promenade Place, a student housing property located at 875 S. Geneva Road in Orem. Woodbury Corp. sold the asset to a private out-of-state investor. Constructed in 2017, Promenade Place is a transit-oriented, 429-bed student housing property located adjacent to Utah Valley University. While terms of the transaction were not available, Colliers says the sale is one of the largest student housing transactions ever in Utah, with the highest sales price per bed. SHB was unable to confirm these statements since neither the sales price nor price per bed were made available. Rawley Nielsen, Mark Jensen and Darren Nielsen of Colliers facilitated the deal and represented the seller.

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