Warmington Properties, Inc., (WPI) recently closed escrow on Mountain Run Apartments, a 113-unit apartment project located in Orem, Utah. Considered a true value-add opportunity, this most recent acquisition extends our reach into the Salt Lake City metro submarket, which is enjoying significant economic and population growth due to its business-friendly environment, ease of travel, significant lifestyle amenities, and the growing tech industry on the “Silicon Slope.” For these reasons, we anticipate Mountain Run to be the first acquisition of our Utah portfolio.
Again this year, Warmington made Professional Builder’s annual list of Housing Giants, ranking 92 of 245 of the largest builders in the country based on 2017’s housing revenue and closings.
Professional Builder said…
We’re not sure who has it better. Is it the fish or the employees at Warmington’s Costa Mesa-based headquarters? For years, the building’s atrium has been home to a large and lush indoor pond, filled with a stunning collection of Japanese Koi. But recently, this fish abode got “renoed” and whoa -- what a makeover!
Warmington Residential is Aggressively Seeking New Development Deals in Ventura County, Central Coast Region
Propelled by its success in acquiring land in Los Angeles County over the past several years, Warmington Residential has set its sights on Ventura County and the entire Central Coast. The privately held home builder is aggressively pursuing well-located land opportunities that maximize property owners’ land value and offer the potential to redevelop for residential, retail and commercial use and will go after infill, urban and suburban locations.