CBRE Arranges Sale of 1,610-Unit MF Portfolio in Iowa

CBRE has arranged the sale of the Wings 914 Portfolio, a six-property, 1,610-unit multifamily portfolio in the Des Moines metropolitan area. The transaction marks the largest multifamily deal ever recorded in the state of Iowa.

CBRE’s Cy Fox, Matt Bukhshtaber, Ray Hamilton and Clark Matthews represented the seller in the transaction. The sellers intentionally directed a significant portion of the assets to charitable causes through the National Christian Foundation. The properties were constructed between 1988 and 2015.

“The Wings Portfolio presented a generational opportunity to acquire one of the most impressive multifamily portfolios in the Midwest,” said Fox, Executive Vice President. “The properties were exceptionally well-designed and built to the highest standards, receiving several energy efficiency awards and earning national recognition. Executing a transaction of this scale demands a world-class team, and we at CBRE were honored to play our part in this historic transaction.”

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