Weidner purchases Lehi apartment complex for $130M

By Courtney Rivera 26/10/2026 2 min read 25 views

Charming winter street scene in a Utah city with snow-covered sidewalks, cars, and historic buildings. Photo: David Guerrero/Pexels

Weidner Apartment Homes has acquired Seasons of Traverse Mountain, a 440-unit community in Lehi, Utah, for $130 million. The property, now rebranded as Ridgeline at Traverse Mountain, was sold by Mountain States Properties at approximately $295,455 per unit.

Cushman & Wakefield represented the seller in the transaction, which marks the largest suburban multifamily investment in Utah in five years. The deal is also the largest widely marketed multifamily sale on record in Utah County.

Located at 4200 N. Seasons View Drive, Ridgeline at Traverse Mountain features nine four-story buildings spread across 26 acres. The community offers one- to three-bedroom floorplans with an average size of 907 square feet, as well as amenities like a swimming pool, spa center, business center, two fitness centers, a soccer field, a theater, four playgrounds, barbecue areas, and 740 parking spots. The pet-friendly community includes in-unit washers and dryers and covered balconies or patios.

The property’s location provides access to Interstate 15, serving the Silicon Slopes region and tech corridor, with Downtown Salt Lake City and its international airport 31 miles away. The community is also near the Outlets at Traverse Mountain and Adobe’s campus, a major employer in the area.

Salt Lake City’s multifamily sector has experienced supply pressures and falling asking rents, with average asking rates declining 0.4 percent to $1,525 in the first two months of 2026, according to a Yardi Matrix report. Investment in the sector totaled $641 million in 2025, exceeding the previous two years’ transaction volume.

The first nine months of 2026 saw slower transaction activity, with only seven communities changing hands, totaling $187 million. Notable deals included the $53.9 million sale of Lex, a 204-unit property in Tooele, Utah, purchased by The Korda Group from Zenith Partners in April.

The Cushman & Wakefield team representing the seller included Vice Chairmen Kip Paul and Kevin Donner, alongside Senior Director Michael King, Director JT Redd, and Associates James Hunsinger and Katie Goldberg.