Eastham Capital, Artisan Capital Group Acquire Des Moines Mixed-Use

Eastham Capital, a private equity real estate firm, has partnered with Artisan Capital Group, a multifamily owner-operator, to acquire Cityville on 9th, a mixed-use community in the Des Moines area.

South Florida-based Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI, LP. Artisan Capital Group has co-invested with Eastham and will oversee the day-to-day management. The acquisition price was not disclosed.

“The property is ideally located on the southern edge of downtown, providing our residents with proximity to the city’s employment hubs in addition to immediate access to Des Moines’ most sought-after lifestyle amenities,” said Matthew Rosenthal, founder and managing director of Eastham Capital.

Cityville on 9th was constructed in three phases between 2015-2018 and is comprised of 312 apartments and 47,807 square feet of ground floor retail space. Located at 550 SW 9th Street, the community consists of studio, one- and two-bedroom units.

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