About Us

Since our founding in 2003, PEG has become one of the leading commercial real estate development firms in Utah. Our experience allows us to provide comprehensive oversight of our development projects from the conceptual stage through construction and operation.

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Message from the CEO:

PEG enjoyed an amazing and robust 2016 and 2017.  In 2016, six new projects were completed (five hotels and one multifamily) valued at nearly $90 million.  For 2017, we cut the ribbon on two different Hyatt Place Hotels.  The Hyatt Place Boise and the Hyatt Place St. George.  The timing on both properties has been excellent considering the on-going demand for hotel rooms in St. George and Boise.  In 2017, we sold the Springhill Suites in Jackson Hole.  That sale produced a nearly 3x (2.9 actual) multiple for our investors.

As we look to 2018, we are pursuing an active student housing market.  The local and regional demand for student housing is significant, and we are currently engaged in two student housing projects: UVU Student Housing and Dixie State Student Housing. Both of these projects are moving forward.

So, what is the outlook for student housing going forward and what can we expect? Here is what some of the experts are saying.

“While year-to-year numbers may vary, the number of people enrolling in higher education continues to rise, driving up DEMAND FOR HOUSING OPTIONS and ensuring landlords will have a stable base of renters far into the future. The National Center for Education Statistics predicts college enrollment in the U.S. will reach 19.8 million students by 2025, an increase of 14 percent from its 2014 enrollment of 17.3 million.” (Thornsby, Devon. “Want to invest in real estate? Consider student housing,” US News & World Report. April 2016.)

“It would be pretty hard to overbuild in most markets. There is such strong demand. In most markets you could double the amount and not overbuild.” (Nate Kunes, VP Product Management at AppFolio Inc. Anderson, Bendix. “Demand for Student Housing Looks Strong for 2017,” National Real Estate Investor, 11 November 2016.)

“The student housing sector is in the sixth inning and there is still a lot of opportunity out there…Institutional investors, including sovereign wealth funds and pension funds, remain interested in the student housing sector due to their ability to achieve higher returns than they otherwise would through conventional multifamily housing.” (JJ Smith, President of CAStudentLiving. Bell, Diana. “What to Expect from Student Housing in 2017,” National Real Estate Investor, 5 January 2017.)

At PEG, we are excited about our student housing projects. The UVU project will go a long way to providing quality housing that is literally “on campus” for the first time. As the State’s fastest growing institution of higher education, we are proud to be part of UVU’s ability to grow and attract top tier students. Much the same can be said for Dixie State University. Dixie State is well positioned to grow and draw students from southern California and Nevada, but that growth is constrained by the availability of student housing. We can help drive that growth by providing a quality housing product that will help recruit and retain students.

We hope you get a feel for the growth that PEG is experiencing.  We are continuing to evaluate a constant flow of opportunities and we are excited to be announcing some new projects soon.  These new projects will provide some excellent investment opportunities in the PEG portfolio.  We are confident that you will find something in the portfolio that will pique your interest. Don’t hesitate to reach out if you have questions. We’d love to hear from you.

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