Greysteel announced the sale of Fountain Terrace, a newly constructed 146-unit multifamily community at 655 S 88th Street in West Des Moines, Iowa.

The property’s blend of high-quality new construction in a prime location resulted in strong investor interest, ranging from private capital to institutional capital. Completed in 2024, Fountain Terrace was 94% occupied at the time of closing.

The property offers studio, one-, two-, and three-bedroom apartment homes. The community features amenities, including a swimming pool, fitness center, detached garages, and pet-friendly facilities.

“This property stood out as new construction with highly desirable amenities and an exceptional location in the heart of the area’s major job center,” said Zach Schneider, Director at Greysteel. “Its combination of accessibility and thoughtful features attracted competitive offers from groups eager to enter Des Moines with a standout opportunity in the market.”