Investors Capital Group (ICG), a firm focused on multifamily real estate investments, has acquired Desert Village Townhomes in St. George, Utah, from CW Group for an undisclosed price above $50 million.
This acquisition adds 184 high-quality units in the St. George submarket of Santa Clara, Utah, to ICG’s expanding portfolio, further solidifying their presence in rapidly growing regions. Desert Village will be the fourth property that ICG Apartment Fund 8 LLC has acquired.
“Desert Village Townhomes complements our overall portfolio and is an important part of our most recent investment opportunity, ICG Apartment Fund 8. This acquisition is part of our strategy to provide high-quality multifamily investments in western U.S. markets for both capital appreciation and cash flow,” said Mick Halpin, principal at ICG.
Completed in three phases between 2022 and 2023, Desert Village Townhomes offer modern amenities and large livable units averaging more than 1,500
