AMES PROPERTIES PURCHASES MULTIFAMILY COMMUNITY FOR $1.7 MILLION

DES MOINES, IOWA – Douglas Terrace Inc., advised by Des Moines-based CB Richard Ellis/Hubbell Commercial, has sold the Douglas Terrace Apartments to Ames Properties for $1.7 million. The multifamily property, located at 3120 Douglas Ave. in Des Moines, contains 72 units and was built in 1977. CB Richard Ellis’ Rick Krause advised the seller in the transaction.