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Chicago & Midwest  + Midwest  + Apartments  | 

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.

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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 16-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 7-10 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).

  • ◦Sale/Acquisition
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