Orion Real Estate Partners acquired a seniors housing community in Utah from Tablerock Capital. Built in 1998, Meridian Heights features 96 units in Sandy. The units comprise one- and two-bedroom floor plans that range from 838 to 1,004 square feet. Danny Shin and Brock Zylstra of Institutional Property Advisors, a division of Marcus & Millichap, handled the transaction.
In 2022, the asset became subject to a $4.5 million CMBS loan from Citibank, originated by Berkadia Commercial Mortgage, according to Yardi Matrix data. The note carries a 2029 maturity and a 5.95% fixed interest rate. The community last traded in 2019.
