BLUFFDALE, Utah, Oct. 16, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Justin Luettgerodt, chief executive officer of Aclaime Dynamics, today offers a progress report of the properties at Aclaime at Independence, recognizing the rapid expansion of growth and the successful divesting of multiple assets.
Independence is a 536-acre master planned community located on the border of Salt Lake and Utah counties in an area seeing accelerated growth. In January of 2013, Aclaime Dynamics purchased 141 acres of the master plan from a distressed sale that encompassed commercial mixed use properties and 1,000 potential home sites, immediately implementing an aggressive turnaround and value-add strategy.
As of October 2014, Aclaime Dynamics has reconfigured and exited seven commercial parcels. Aclaime Dynamics has also entitled, improved, and sold all 190 lots in phase one and completed entitlements for phase two. Phase two is called Westgate, which is a 32-acre parcel approved for 266 homes sites, including 155 townhomes, 111 single family lots, and 3.6 acres of parks and trails. Phases three and four will include 47 acres targeted for 392 units.
"I'm proud to see the hard work of our dedicated team result in multiple entitlements and zoning modifications that substantially increased the value of our properties and have led to several successful asset sales," said Mr. Luettgerodt. "Since Aclaime Dynamic's acquisition in Bluffdale, we have worked with some of the best Utah designers, engineers, and consultants to execute on our strategy. I look forward to the continuing success of our team."
Aclaime Dynamics is a multi-faceted real estate investment company backed by The Aclaime Group. Given an ever changing real estate landscape, the company seeks acquisition opportunities that are by-products of market conditions or lack of providers. Utilizing this approach the company was one of the first groups in 2008 to participate in FDIC transactions, non-performing loans, and other distressed debt opportunities throughout the downturn. For more information, click here.
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