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JB Matteson Acquires Patriot Pointe Townhomes in North Ogden, UT

North Ogden (November 11, 2024) – 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.

Introducing Our Stellar New Joiners!

We are delighted to introduce three outstanding professionals who have recently joined our team, each bringing a unique set of skills to our organization. Please join us in extending a warm welcome to Jamie Blake, Sam Blake, and Katie Garrity Ashforth.

👉 Jamie Blake, our Vice President of Investments, brings an institutional background in real estate acquisitions and asset management. Jamie was previously with Morgan Stanley Real Estate and Invesco Real Estate. He has a B.A. in Business Administration with a major in Finance, a minor in History, and an M.B.A. from the Anderson School of Management at UCLA.

👉 Sam Blake, also a Vice President of Investments, brings ten years of multifamily investment expertise and a proven track record of multifamily acquisitions. Sam holds a B.A. in Business Administration with a major in Real Estate Finance and History from SMU's Cox School of Business.

👉 Katie Garrity Ashforth, CFA, our Vice President of Business Development and Investor Relations, joins us from DWS (previously Deutsche Bank), where she held key roles, including Vice President, Relationship Manager, and Vice President of Portfolio & Asset Management. A graduate of Cornell University, Katie has a B.S. in Applied Economics and Management with a Finance concentration and a Communication minor. Katie has attained series 7 and 63 securities licenses and is a Chartered Financial Analyst.

As our team expands with these exceptional individuals, we are confident that their expertise, dedication, and strong industry networks will drive our organization to new heights.