COUNCIL BLUFFS, IOWA — NorthMarq Capital has arranged a $16.7 million Freddie Mac loan for the refinancing of River Park Apartments Phase III in Council Bluffs. The 190-unit apartment property features amenities such as a 24-hour fitness center, café, clubhouse, basketball court and two swimming pools. Jason Kinnison of NorthMarq arranged the loan for the undisclosed borrower.
DUBUQUE, IOWA — Phoenix Theatres has signed a lease to reopen the six movie screens at Kennedy Mall in Dubuque. Moviegoers will get to experience the upgrades to the theater in a grand opening, which is slated for March. Each auditorium will feature fully reclining chairs, premium sound, self-serve drink stations and online ticketing. Opened in 1970 and located at 555 J.F.K. Road, the 700,000-square-foot Kennedy Mall features retailers such as Younkers, Dick’s Sporting Goods, J.C. Penney,..
IOWA CITY, IOWA — CA Ventures and Janko Hospitality have topped off the Hyatt Place Iowa City. The 151-room hotel, currently under development, is located in one of two towers that comprise the venture’s RISE at Riverfront Crossings development. The 575,000-square-foot mixed-use development will also include a 332-unit apartment tower, retail and office space. Completion is slated for August 2018. Managed by Janko Hospitality, the hotel will feature guest suites with separate living..
DAVENPORT, IOWA — CBRE Hotels has brokered the sale of the Radisson Quad City Plaza hotel in Davenport, the largest of the Quad Cities, for an undisclosed price. The 221-room hotel is located at 111 East 2nd St. along the Mississippi River. Amenities include an indoor pool, fitness center and on-site restaurant. Nate Sahn of CBRE represented the undisclosed seller. Hawkeye Hotels Inc. purchased the property with plans to complete a comprehensive renovation.
DUBUQUE, IOWA — SVN has brokered the sale of Hillcrest Apartments in Dubuque for $5 million. The 108-unit affordable housing property is located at 3290 Hillcrest Road in eastern Iowa. Reid Bennett and Cody Doran of SVN | Chicago Commercial represented the undisclosed seller in the transaction. The buyer was an affordable housing developer and owner.
URBANDALE, IOWA — CBRE has arranged the sale of the Interstate Distribution Center in Urbandale, about eight miles northwest of Des Moines, for $16.7 million. The 518,161-square-foot distribution center is fully occupied by two undisclosed tenants. Built in 1968, the property is situated on a 42-acre parcel near the junction of I-35, I-80 and I-235. Judd Welliver, Ryan Watts, Sonja Dusil, Tom Holtz and Chris Pendroy of CBRE represented the seller, Investors Real Estate Trust. Bell Avenue..
DES MOINES, IOWA — Timberland Partners has acquired Ashley Square in Des Moines for an undisclosed price. The 144-unit apartment property consists of one- and two-bedroom floor plans. Built in 1986, the five-building property features amenities such as an outdoor pool and clubhouse. Planned improvements include new signage, fencing and renovations to unit interiors and clubhouse. All units will receive new flooring, lighting, appliances, countertops and in-unit washers and dryers. This is..
JOHNSTON, IOWA — R&R Realty Group has opened Residences at 62W in Johnston, about 10 miles northwest of Des Moines. The 137-unit apartment community features one-, two- and three-bedroom floor plans. The property, located on 62nd Avenue, features amenities such as a health center, yoga room, game room, pet spa and pool deck. West Des Moines, Iowa-based R&R Realty Group is a full-service real estate company with development, brokerage, construction and property management services.
SIOUX CITY, IOWA — NorthMarq Capital has arranged a $6.7 million Freddie Mac loan for the refinancing of Glen Oaks Apartments in Sioux City. The 144-unit apartment property is located at 3800 Glen Oaks Blvd. Community amenities include a fitness center, swimming pool, sundeck, clubhouse, basketball and tennis courts. Jason Kinnison of NorthMarq arranged the loan for the undisclosed borrower.
DAVENPORT AND SIOUX CITY, IOWA — The Opus Group has signed contracts with the Iowa National Guard to design and construct two facilities for advanced training in both Davenport and Sioux City. The Iowa Air National Guard will use a 37,000-square-foot facility in Sioux City, while the Iowa Army National Guard will use an 87,000-square-foot building in Davenport. Both buildings will replace existing facilities with modern spaces, including dedicated areas for specific training programs and..