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Chicago & Midwest  + Midwest  + Apartments  | 

JLL Finalizes Sale of Des Moines-Area Apartments

JLL Capital Markets closed the sale of Signature Place, a 261-home, garden-style apartment community in West Des Moines, IA. Terms weren’t disclosed. Senior director David Gaines and director Kyle Butler, along with managing directors Marcus Pitts and Justin Lossner and VP Mike Minard of JLL’s Des Moines office, handled the transaction.
 
The sale involved the assumption of the existing Fannie Mae debt that was originated by JLL in 2016 and assumed by the buyer.  JLL worked on behalf of the seller, ARTISAN Capital Group, LLC, to complete the sale to the buyer, a West Coast-based equity group.
 
“The Des Moines market continues to attract investment capital based on several positive demographic factors including having both the highest population growth, as well as the highest employment growth of all of its Midwest peers over the past 10 years,” said Gaines.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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