DES MOINES, IOWA — NAS Investment Solutions has purchased Broadway Apartments in Des Moines for an undisclosed price. Built in 2015, the property comprises 120 units across three stories. Units average 875 square feet in size. Broadway Apartments offers amenities such as an updated clubhouse, fitness center, playground, dog park and theater room. Adventureland Amusement Park, Prairie Meadows Racetrack & Casino and Outlets of Des Moines are within two miles of the property.
DES MOINES, IOWA — ARTISAN Capital Group (ACG) and Eastham Capital have partnered to acquire Wakonda Village, a 382-unit community in Des Moines. The property is located on the city’s south side, adjacent to the Wakonda Country Club and one block from the Fleur Drive retail corridor. Amenities include a pool, fitness center and dog park. The buyers plan to renovate the property with updates to apartment interiors, parking lots, sidewalks, landscaping and hallway paint and carpets. Pickleball courts and grill stations will also be added to the amenity package. …
WEST DES MOINES, IOWA — A partnership consisting of ARTISAN Capital Group (ACG) and Eastham Capital have acquired Cambridge Court Apartments, a 192-unit property in West Des Moines. Cambridge Court Apartments was built in 1992 and offers one, two and three-bedroom units. Amenities include a clubhouse, fitness center, dog park, garages and indoor/outdoor pools. The buyers plan to renovate the complex. Exact plans for the renovation, however, were not disclosed. ARTISAN Management Group, ACG’s management vertical, will oversee operations at the property.
DES MOINES, IOWA — JLL Capital Markets has arranged $10.6 million in acquisition financing for Harbach Lofts, a 103-unit complex in Des Moines. JLL worked on behalf of the borrower, VareCo, to secure the fixed-rate, ten-year Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, a Fannie Mae DUS lender. Tony Nargi and Will Haass led the JLL Capital Markets Debt Advisory team. Harbach Lofts was originally constructed in 1906 as a furniture warehouse. The property was converted into an apartment community in 2017. Harbach Lofts now comprises …
COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. has secured $67 million in low-income housing tax credits (LIHTC) to support the financing for five affordable housing communities in the Southeast and Midwest U.S. The North Carolina Housing Finance Agency allocated $1.2 million to Pender Crossing, a 48-unit development to be built in Wilson, North Carolina. Pender Crossing will offer one-, two- and three-bedroom units across three buildings. TightLines Designs, headquartered in Raleigh, North Carolina, is the architect for the development. Woda Cooper is partnering with the Keweenaw Bay Indian Community to …
WATERLOO, IOWA — The Annex Group will develop Union at North Crossing, an affordable community in Waterloo, which is in Black Hawk County, Iowa. Union at North Crossing will be a garden style complex offering 180 units across five buildings. Units will come in one-, two- and three-bedroom layouts. The community will be affordable to households earning at or below 60 percent of the area median income. Union at North Crossing is slated to open in summer of 2024. Iowa Finance Authority issued the tax credit award and $25 million …
WEST DES MOINES, IOWA — Thompson Thrift has sold Watermark at Jordan Creek, a 176-unit apartment community in West Des Moines. The sales price and buyer were undisclosed. Completed in 2015 and located at 6455 Galleria Drive, the Class A property consists of four-story buildings with detached garages. Amenities include a resident social lounge, heated pool and spa, clubhouse, fitness center, dog park and community grilling areas. The community was 94 percent leased at the time of sale.