Cityville on 9th in Des Moines, Iowa

ARTISAN Capital Group, Eastham Capital Acquire 312-Unit Cityville on 9th in Des Moines, Iowa

by Channing Hamilton

DES MOINES, IOWA — A partnership between ARTISAN Capital Group and Eastham Capital has acquired Cityville on 9th, a 312-unit community located in downtown Des Moines. The property was built in three phases between 2015 and 2018. ACG secured Fannie Mae loan assumptions for two of the phases at very attractive interest rates. West Bank, a local bank, provided financing for the third phase. The sale price and seller were not disclosed.

Cityville on 9th offers 42 studios, 162 one-bedroom, 99 two-bedroom and 9 three-bedroom units. Amenities include a pool, dog park, courtyard, fitness center, game room, theater room, business center with conference room and coffee bar. The property also includes 48,000 square feet of commercial space.

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