LOVELAND — McWhinney Real Estate Services Inc. raised $10.92 million in August under MXD Granary Investments LLC, a Form D filing with the U.S. Securities and Exchange Commission said.
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BizWest first reported the funding last Friday. Twenty-three investors committed a minimum of $75,000 and an average of $475,000 apiece to the LLC. A McWhinney spokesperson declined comment for now.
The Granary District is one of Salt Lake City’s oldest areas, its website said. The formerly industrial sites, many vacant, on the edge of the city’s downtown have seen extensive redevelopment in recent years.
The area is part of a federal Opportunity Zone, investments in which can confer tax benefits and the city has been rezoning swaths of it to facilitate growth. Projects include residential, office and a city block of parking under the area’s Industry SLC initiative and a 102-unit apartment building proposed in May by Centerville, Utah-based CW Urban.
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