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NorthMarq Arranges $53.3M Refinancing for Five Multifamily Properties in Iowa, Nebraska

IOWA AND NEBRASKA — NorthMarq Capital has arranged $53.3 million for the refinancing of five multifamily properties located in Iowa and Nebraska. The properties include Park Avenue in Des Moines; Bentley and Enclave in Omaha; and Highpointe and Old Cheney in Lincoln, Neb. The five properties contain a total of 899 units. Jason Kinnison of NorthMarq arranged the five individual financings through Freddie Mac. The fixed-rate, 10-year loans feature amortization schedules of 30

Mandel Group Acquires 160-Unit Apartment Community in West Des Moines

WEST DES MOINES, IOWA — Mandel Group Inc. has acquired Springs at Jordan Creek in West Des Moines for an undisclosed price. The 160-unit apartment community is situated on 12 acres at 8655 Bridgewood Blvd. Amenities include a pool, fitness center, clubhouse, business center and coffee bar. The garden-style property was 96 percent occupied at the time of sale. David Gaines, Sean Fogarty and Jules Sherwood of HFF represented the seller, Continental

Equity Investment Group Acquires 113,713 SF Shopping Center in Davenport, Iowa

DAVENPORT, IOWA — Equity Investment Group has acquired a 113,713-square-foot shopping center anchored by Hv-Vee in Davenport for an undisclosed price. Known as Kimberly West shopping center, the property is 87.8 percent leased. Other tenants include Great Clips, Tony’s Chicago Style Pizzeria, Rent-A-Center, Citizens Finance Co., Amana Medical Care and Lily Massage. Amy Sands, Clinton Mitchell and Jules Sherwood of HFF represented the seller, Brixmor Property

Ross to Open Two New Stores in Des Moines

DES MOINES, IOWA — Ross Dress for Less plans to open two new stores in greater Des Moines on Saturday, Oct. 13. The store at Southridge Mall on the South Side of Des Moines will span 22,000 square feet. The West Des Moines store will span 25,000 square feet and be located within the Water Tower Place shopping center. With these new openings, Ross will operate six stores in Iowa and a total of 1,470 locations

CBRE Arranges Sale of Two Hotels in Coralville, Iowa

CORALVILLE, IOWA — In two separate transactions, CBRE has arranged the sales of a Comfort Inn & Suites and a Quality Inn in Coralville, a suburb of Iowa City. The sales prices were not disclosed. The 62-room Comfort Inn & Suites is located at 214 W. 9th St., while the 55-room Quality Inn is located at 209 W. 9th St. Douglas Johnson of CBRE represented the undisclosed sellers. Two different investment groups purchased the

Quantum Brokers Sale of Hy-Vee Gas Station in Davenport, Iowa

DAVENPORT, IOWA — Quantum Real Estate Advisors Inc. has brokered the sale of a gas station occupied by Hy-Vee in Davenport for $855,000. The single-tenant property is located at 3850 Elmore Ave. A Davenport, Iowa-based private investor was the buyer. A southern California-based acquisition and development company was the seller. Chad Firsel of Quantum represented both parties in the sale. Hy-Vee has approximately 1,200 fuel stations across the

Marcus & Millichap Brokers Sale of 69-Room Hotel in Dubuque, Iowa

DUBUQUE, IOWA — Marcus & Millichap has brokered the sale of Country Inn & Suites Dubuque for an undisclosed price. The 69-room hotel, built in 2000, is located at 1315 Associates Drive in eastern Iowa. Jon Ruzicka and Jake Erickson of Marcus & Millichap marketed the property for sale and procured the buyer. Neither the buyer nor the seller was

CBRE Arranges Sale of 63-Room Hampton Inn Hotel in Iowa

KEOKUK, IOWA — CBRE Hotels has arranged the sale of the Hampton Inn in Keokuk, the southernmost city in Iowa near the border of Illinois. The sales price was not disclosed. The 63-room hotel is located at 3201 Main St. Hotel amenities include an indoor pool, business center, fitness facilities and small meeting space. Douglas Johnson of CBRE represented the undisclosed seller. H K Corp. was the

7G Distributing Opens 112,000 SF Corporate Headquarters in Davenport, Iowa

DAVENPORT, IOWA — 7G Distributing has opened its new 112,000-square-foot corporate headquarters and distribution center in Davenport. The beer distributor serves eastern Iowa with brands such as Anheuser-Busch and Crown Imports. The facility features a solar array on the roof. Other building features include red accented walls, exposed ceilings and a large-scale company logo painted on two sides. HDA Architects was the project architect and Kraus-Anderson was the contractor. 7G Distributing …

NorthMarq Arranges $4.5M Refinancing of Apartment Property in Iowa

INDIANOLA, IOWA — NorthMarq Capital has arranged a $4.5 million loan for the refinancing of Linden West Apartments in Indianola, about 20 miles south of Des Moines. The 96-unit apartment property is located at 1203 W. 2nd Ave. Jason Kinnison of NorthMarq arranged the 10-year loan, which features a 30-year amortization schedule. A life insurance company provided the loan. The borrower was not

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