Jupiter View Capital, LLC
A Real Estate Company
Jupiter View Capital, LLC
A Real Estate Company
A Real Estate Company
A Real Estate Company
Jupiter View Capital (JVC) is a private real estate investment and landlord operations company founded in 2000. Since our inception, JVC has created a portfolio of commercial multi-family and single-family properties, primarily in Utah.
JVC believes hard tangible assets like commercial residential real estate offer important benefits over traditional asset classes (e.g. equities and bonds). Since the Great Recession (‘08-‘09), hedging against inflation has been an important theme of our investment philosophy, hence our focus on residential commercial real estate assets.
The fundamentals of Salt Lake City (SLC) resulted in consolidated and focused efforts in this metro area since 2012. We continue to believe growth in SLC will be above the national average. Since 2012, we have aggressively added assets located in the downtown area of SLC to the portfolio. When debt is incorporated, we are Sponsors for the GSA's (Freddie Mac and Fannie Mae) on housing deals in SLC.
Park City is another market in Utah we have focused significant efforts on due to our familiarity with the community, dating back to 1998. Park City is uniquely located less than 40 minutes away from the new, modern and architecturally award-winning Salt Lake City International Airport, as a ski destination; attracting people globally to experience “The Greatest Snow on Earth”. As well, the rapid growth of technology companies has created high quality jobs in Park City and surrounding areas (e.g. Provo, SLC), which Park City has become a bedroom community to. Park City real estate has far outperformed other ski towns (e.g. Aspen, Telluride, Vail, Jackson Hole, etc) in the SFR market post Covid, yet is still priced significantly less ($/SF) on an absolute basis. All of our Park City assets are currently in various stages of redevelopment.
We believe both markets have ample room for growth over the next ten years, hence our continued focus on acquisitions and development opportunities.
Bryan Whang is the Founder and a Managing Partner of Jupiter View Capital, LLC. Previously, he worked in the equities division at Goldman Sachs and Merrill Lynch. Academically trained as an engineer, with experience as a consulting engineer in Massachusetts, he has designed and managed construction for large scale infrastructure projects. Bryan is currently a licensed General Contractor in Utah, California and Nevada.
S.M. Whang is a Managing Partner of Jupiter View Capital, LLC. He graduated from Columbia University and Columbia Law School, followed by a 30 year career as a Managing Director on Wall Street.
Westcliff Apartments was acquired in 2017. This asset underwent a full interior renovation updating a historic and charming 1940's brick exterior with all the modern conveniences of a class A luxury building. Westcliff Apartments is located in the heart of downtown SLC.
Liberty Park Apartments was acquired in 2014 and is located in the very popular area of the 9th and 9th district in SLC. It's also adjacent to Liberty Park, the largest green space in Salt Lake City and a popular spot for summer activities.
Marmalade Apartments was acquired in 2012. An early acquisition building, it is located in the very convenient and popular downtown neighborhood of Capitol Hill. Like all our assets, it has a high walkability score is very conveniently located near public transportation.
This property is located in the popular 9th and 9th district of SLC. Despite it being smaller than our typical asset, the inefficiencies of this smaller and fragmented market resulted in it being drastically mispriced, resulting in a compelling IRR since its acquisition date in 2012.
JVC has assembled a strategic portfolio of single family residential (SFR's) properties in the Old Town and Park Meadows neighborhoods of Park City. We believe that SFR's add diversification to multi-family portfolios, as they attract a different demographic. Families are attracted to the excellent public school system; Park City High School is consistently ranked in the top 50 best public schools in the country. Young couples and single professionals are attracted to the active lifestyle and social scene during both summers and winters. These assets cash flow at attractive cap rates while also offering unique development opportunities. All our properties are highly walkable to Main Street, Town Lift and Park City's popular free transit system. In addition to Park City earning the nick name "Silicon Slopes" due to many tech based companies establishing their headquarters in Park City, we believe this community offers organic growth, as a bedroom community for professionals who work in Salt Lake City and Provo. Downtown Salt Lake City and the new award winning Salt Lake City International Airport are a less than 30 minutes away.
Crandall Apartments is our most recent acquisition completed in September 2020, during the height of the Covid-19 pandemic. Despite the uncertainty, we proceeded with the acquisition of this asset with the belief that the fundamentals of our investment theme would remain in tact, and the world would continue. In retrospect, this asset was acquired at an attractive discount (30% below the initial ask price) as a result of the uncertainty and has performed above our most optimistic pro-forma models.
Los Angeles, CA : New York, NY : Park City, UT