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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.
- ◦Sale


