WEST DES MOINES, Iowa, Jan. 11, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Woodland Apartments (top left photo), a 60-unit apartment property located in West Des Moines, according to Matthew M. Fitzgerald (middle right photo), vice president and regional manager of the firm’s Des Moines office.
The asset commanded a sales price of $2.9 million.
Thomas DeWaay, an investment specialist in Marcus & Millichap’s Des Moines office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Thomas DeWaay.
Woodland Apartments is located at 4949 Woodland Ave. in West Des Moines. The property, which was built in 1984, was 89 percent occupied at the time of purchase and traded at an 8.25 percent cap rate.
Press Contact:
Matthew M. Fitzgerald, Vice President and Regional Manager, Des Moines Office, (515) 645-3200
Jennifer Williams | |||
Operations Manager | |||
| |||
Follow us at http://www.Twitter.com/mmreis | |||
No comments:
Post a Comment