Multifamily and Apartment Brokers in Utah
Legend Commercial's multifamily division helps investors, developers and owners buy and sell apartment communities, smaller apartment buildings and multifamily development sites across Utah and the Mountain West. The team includes Derek Kofoed, who has transacted more than $500 million in investment real estate, working with investment specialists Tanner Pulsipher and Jace Bankhead, CCIM.
Who we work with
Private apartment owners, syndicators and family offices, developers and 1031 exchange buyers.
Selling an apartment property
We value the property against current rent and sales comparables, build an offering that highlights its upside, and run a competitive process with qualified buyers.
Buying and value-add
We source stabilized and value-add opportunities, underwrite rents, expenses and capital needs, and help buyers move quickly with confidence.
Development sites
Working with Legend's land division, we market and acquire sites suited to apartments, townhomes and mixed-use residential.
Experience
Derek Kofoed brings more than a decade in Mountain West multifamily, including years at Marcus & Millichap and Newmark before joining Legend in 2025. Legend expanded into multifamily as part of its 2024 growth into new asset classes.
Services
- Apartment dispositions
- Buyer representation and acquisitions
- Broker opinions of value
- Value-add and repositioning strategy
- 1031 exchange placement
- Multifamily development site sales
Property types
- Garden-style apartment communities
- Small and mid-size apartment buildings
- Mid-rise and mixed-use residential
- Townhome and build-to-rent
- Value-add properties
- Multifamily development land
Markets we serve
- Salt Lake County
- Utah County
- Davis and Weber Counties
- Summit County
- Mountain West
Multifamily brokers
- Derek Kofoed, Investment Sales Agent
- Tanner Pulsipher, Investment Sales Agent
- Jace Bankhead, Sr. Retail Agent
Frequently asked questions
How are apartment buildings valued?
Most apartment buildings are valued on net operating income (NOI) divided by a market cap rate, cross-checked against price per unit and recent comparable sales. Rent compared with market, occupancy, expenses, physical condition and deferred maintenance all move the number.
What is a value-add multifamily property?
A value-add property has upside an owner can create, usually by renovating units, improving management, raising below-market rents or cutting expenses. Buyers pay for today's income and capture the upside through improvements.
How do I find out what my apartment building is worth?
Request a broker opinion of value. Legend's multifamily team reviews your rent roll, operating expenses and recent comparable sales to estimate value and outline the best way to sell.
Can I use a 1031 exchange to buy an apartment building?
Yes. Apartment buildings qualify as like-kind real estate for a 1031 exchange, and multifamily is a common replacement property for investors exchanging out of other assets. Work with a qualified intermediary and your tax advisor on timing and structure.
What types of multifamily property does Legend sell?
Legend handles apartment communities, small and mid-size apartment buildings, mixed-use residential, townhome and build-to-rent projects, value-add properties and multifamily development sites in Utah and the Mountain West.
Related reading
- Real Estate Investing 101: Key Metrics to Watch
- How Legend & Forza Can Assist Your Investing Journey
- CRE vs. The S&P 500: Which Is a Smarter Investment?
Talk to Legend's multifamily team
Call 801.930.6750 or reach any broker above directly. See all Legend Commercial divisions.