JB Matteson, Inc., a 60-year-old San Francisco Bay Area-based private real estate investment manager, today announced the acquisition of Patriot Pointe Townhomes, a recently stabilized Class A townhome community in North Ogden, Utah. This is JB Matteson’s first Salt Lake City-area acquisition.
Completed in 2024, the property consists of 129 townhomes with best-in-class interior finishes and a diverse mix of floor plans. Over 90% of the units are two- and three-bedroom townhomes with direct-access garages, ideal for families in Utah. The residences also feature 9-foot ceilings, quartz kitchen countertops, stainless steel appliances, full-size washers and dryers, and dual-pane windows. Construction to add a clubhouse and gym facility consistent with Class A properties in the market will begin shortly and was negotiated as part of the acquisition.
We’re incredibly excited to enter the Ogden market. Ogden, with a population of 720,000, has grown faster than the national average, adding 97,000 people in the last decade,” said Sam Blake, Vice President Investments, Mountain Region. “North Ogden offers a high quality of life, a business-friendly environment, and is relatively affordable compared to downtown Salt Lake City. This latest addition to our portfolio continues JB Matteson’s investment strategy to acquire high-quality multifamily projects with modern features and amenities located in major markets in the Western United States.”
The property was acquired off-market. Managing Director Dennis Williams and Senior Vice President Briana DeHaan with Northmarq arranged acquisition financing with a life insurance company. Sage Shepard and Brandon Goodman of Colliers brokered the transaction.
About JB Matteson
JB Matteson is a 60-year-old investment manager providing stable and increasing cash flow distribution from high-quality, investment-grade multifamily assets held for the long term. On behalf of over 600 private capital investors, JB Matteson owns and operates over USD $1.1 billion Class A investment-grade multifamily properties located in major cities in the Western United States. The portfolio includes urban mixed-use and suburban garden-style apartments, diversified by metropolitan area, employment drivers, and resident profile. For more information, visit http://www.JBMatteson.com.
To learn more about this transaction, please reach out to the JB Matteson Investment team:
Tom Fischer
Principal, Director of Capital Markets
Investments, Northern California & Pacific Northwest
415-613-4331
tfischer@jbmatteson.com
Sam Blake
Vice President,
Investments, Mountain Region
650-703-6634
sblake@jbmatteson.com
Jamie Blake
Vice President,
Investments, Southern California
650-703-2411
jlblake@jbmatteson.com
If you are interested in learning more about investing with JB Matteson please reach out to:
Katie Ashforth
Vice President,
Investor Relations & Business Development
650-703-1896
kashforth@jbmatteson.com
