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NYC Family Offices Buy in Fast-Growing Des Moines Suburb
Besyata Investment Group and the Scharf Group, both New York City-based family offices, have completed the Phase II acquisition of Autumn Ridge Apartments in Waukee, IA, near Des Moines. They acquired a total of 434 units for a purchase price of $58 million.
The property is a new construction luxury apartment community located in Iowa’s Dallas County, the fifth fastest growing county in the U.S. The immediate area near the property has one of the strongest demographic profiles within the Des Moines MSA.
More broadly, Besyata and Scharf note that the Des Moines market is experiencing strong fundamentals through job and population growth, driven by a robust economy and a business-friendly investment environment. Apartment occupancy rates have continued to remain strong, and the pace of demand over the next four to five years is expected to outpace the growth of new supply.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

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