Iowa Archives - REBusinessOnline

MMCC Secures $7.6M in Financing for Multifamily Property in Burlington, Iowa

Kristin Harlow — Mon, 22 Dec 2025 14:48:40 +0000

BURLINGTON, IOWA — Marcus & Millichap Capital Corp. (MMCC) has secured $7.6 million in financing for Urbane 424, a 52-unit multifamily property in Burlington, a city in eastern Iowa. The five-story property at 424 N. 3rd St. is situated near the Great River Bridge with views of the Mississippi Riverfront. The asset features a mix of studio, one- and two-bedroom units along with 3,000 square feet of first-floor retail space. Amenities include a rooftop terrace, bike storage and lounge. Robert Bhat of MMCC arranged the financing with a national bank on behalf of a private client. The nonrecourse loan features a five-year term with interest-only payments for the full term and a 70 percent loan-to-value ratio.

The post MMCC Secures $7.6M in Financing for Multifamily Property in Burlington, Iowa appeared first on REBusinessOnline.

Greysteel Arranges Sale of 146-Unit Apartment Community in West Des Moines

Kristin Harlow — Wed, 03 Dec 2025 15:17:36 +0000

WEST DES MOINES, IOWA — Greysteel has arranged the sale of Fountain Terrace, a newly constructed apartment community with 146 units in West Des Moines. Completed in 2024, the property was 94 percent occupied at the time of sale. Amenities include a pool, fitness center, detached garages and pet-friendly facilities. According to Greysteel, the asset received more than a dozen offers from out-of-state buyers, many of whom did not own in the Des Moines market. BJ Connolly and Zach Schneider of Greysteel brokered the transaction. Buyer and seller information was not released.

The post Greysteel Arranges Sale of 146-Unit Apartment Community in West Des Moines appeared first on REBusinessOnline.

Coastal Ridge Acquires Two Student Housing Communities Near Iowa State University

Kristin Harlow — Thu, 20 Nov 2025 15:12:19 +0000

AMES, IOWA — Coastal Ridge has acquired two student housing properties serving Iowa State University in Ames. The acquisitions were part of a portfolio that also included a property in Louisiana totaling just under 1,600 beds with a gross asset value of approximately $90 million. The acquisitions mark the firm’s initial deployment of capital from the Coastal Ridge Value-Add Student Housing Fund LP, the company’s inaugural institutional commingled fund. The per-bed cost across the three assets was approximately $56,000. New construction can exceed $100,000 per bed, according to Coastal Ridge.

The post Coastal Ridge Acquires Two Student Housing Communities Near Iowa State University appeared first on REBusinessOnline.

Midwest Office Markets Face Mounting Pressure

Kristin Harlow — Thu, 20 Nov 2025 13:30:00 +0000

By David Goldfisher, The Henley Group Secondary and tertiary office markets across the Midwest, including Chicago, Minneapolis, Madison, Milwaukee, Cleveland, Cincinnati, Columbus and St. Louis, are facing mounting pressure. While each city has its own challenges, a common theme is clear — vacancies remain high and liquidity is thin. Tenant shuffling One of the defining dynamics today is tenant reshuffling rather than net growth. As leases expire, employers frequently move from one building to another, seeking modernized space and stronger amenities. Renovating in place is disruptive and costly, while relocating allows businesses to upgrade with minimal operational downtime. This “musical chairs” effect highlights a deeper structural issue. There are only so many large anchor tenants in Midwest cities and few new entrants are seeking major blocks of space. There is more repositioning for existing tenants than attracting new ones. Flight to quality Landlords and developers are competing to deliver amenities that encourage office attendance and support talent retention. Modernized lobbies, tenant lounges and flexible collaboration areas have become standard expectations. Hines’ upgrades at Chicago’s 333 West Wacker Drive and 601W Cos.’ reinvestment in the Old Post Office demonstrate the scale of investment required. But not all landlords can compete. With…

The post Midwest Office Markets Face Mounting Pressure appeared first on REBusinessOnline.

HSF Originates $108M Construction Loan for Des Moines Apartment Tower

Kristin Harlow — Mon, 17 Nov 2025 14:32:04 +0000

DES MOINES, IOWA — Dallas-based HALL Structured Finance (HSF) has provided a $108 million first lien construction loan for 515 Walnut Tower in downtown Des Moines. St. Joseph Group is the borrower and developer. Richard Price and Jackie Meagher of Berkadia arranged the loan. The project will rise 33 stories with 390 apartment units. A central amenity “lodge” will offer fitness, coworking, lounge and entertainment areas, including a rooftop terrace with hot tubs and cooking space. The second floor will feature a 4,000-square-foot fitness center as well as sky walk connections to an adjacent parking garage.

The post HSF Originates $108M Construction Loan for Des Moines Apartment Tower appeared first on REBusinessOnline.

BWE Arranges $49.5M Refinancing for Two Shopping Centers in Iowa, North Carolina

Kristin Harlow — Wed, 05 Nov 2025 14:41:21 +0000

CEDAR FALLS, IOWA AND SOUTHERN PINES, N.C. — BWE has arranged $49.5 million for the refinancing of East Viking Plaza in Cedar Falls and Morganton Park South in Southern Pines. Dan Rosenberg, Logan Petersmeyer and Isabella Barrios of BWE arranged the financing on behalf of Cincinnati-based Midland Atlantic Properties. Both nonrecourse loans feature multiple years of interest-only payments. East Viking Plaza totals 147,659 square feet and is leased to tenants such as Target, Scheels, Michaels, Old Navy and Ulta. Morganton Park South totals 267,021 square feet and is nearly fully leased. Constructed in 2024, the shopping center is anchored by Target, Dick’s Sporting Goods and HomeGoods.

The post BWE Arranges $49.5M Refinancing for Two Shopping Centers in Iowa, North Carolina appeared first on REBusinessOnline.

Woda Cooper, Parallel Housing Break Ground on 52-Unit Affordable Seniors Housing Community in Iowa

Kristin Harlow — Mon, 03 Nov 2025 14:52:08 +0000

DAVENPORT, IOWA — Woda Cooper Cos. Inc. and co-developer Parallel Housing Inc. have broken ground on Timber Ridge, a 52-unit affordable housing community for seniors age 62 and older in Davenport. Units are targeted for renters who earn up to 60 percent of the area median income. The three-story building will offer 32 one-bedroom units and 20 two-bedroom apartments. Projected rents are $565 to $975 per month, depending on unit size and income restriction. Amenities will include a multipurpose room, dog park and outdoor seating. Timber Ridge will be ENERGY STAR certified. The City of Davenport approved a HOME loan as part of the project’s financing. Primary financing was supported by the allocation of 9 percent housing tax credits by the Iowa Finance Authority. KeyBank Community Development Lending and Investment provided the construction loan and tax credit equity investment. Cedar Rapids Bank & Trust is providing a permanent mortgage. Timber Ridge marks Woda Cooper’s eighth affordable housing community in Iowa and its first in Davenport. Hooker DeJong Inc. is the architect, Woda Construction Inc. is the general contractor and IMEG Corp. is the civil engineer. Woda Management & Real Estate LLC will handle leasing and property management.

The post Woda Cooper, Parallel Housing Break Ground on 52-Unit Affordable Seniors Housing Community in Iowa appeared first on REBusinessOnline.

Woda Cooper Opens 40-Unit Affordable Housing Community in Des Moines

Kristin Harlow — Thu, 30 Oct 2025 13:10:45 +0000

DES MOINES, IOWA — Woda Cooper Cos. Inc. has opened Alley Landing, a 40-unit affordable housing community constructed on the site of the former Plaza Lanes bowling alley in Des Moines. The city provided a HOME loan and an American Rescue Plan Act loan. The city also granted project-based vouchers for eight Permanent Supportive Housing (PSH) units through the Metropolitan Housing Authority. Veterans are prioritized for the PSH units. Alley Landing features one-, two- and three-bedroom units that are targeted to residents earning up to 60 percent of the area median income. Rents range from $790 to $1,140 per month, depending on income limits and size of unit. The four-story building features amenities such as a multipurpose room, dog park and playground. Families Forward will provide onsite service coordination for the PSH units and direct support in areas such as vocational training, budgeting and financial literacy. The Iowa Finance Authority allocated housing tax credits and provided a second HOME loan. Bank of America is providing a construction loan and an equity investment in exchange for the tax credits. Cedar Rapids Bank & Trust provided the first permanent mortgage. Polk County Housing Trust Fund provided an additional loan. Hooker DeJong Inc.…

The post Woda Cooper Opens 40-Unit Affordable Housing Community in Des Moines appeared first on REBusinessOnline.

TVS Supply Chain Solutions Opens 225,113 SF Industrial Facility in Waterloo, Iowa

Kristin Harlow — Wed, 01 Oct 2025 13:48:53 +0000

WATERLOO, IOWA — TVS Supply Chain Solutions has opened its new 225,113-square-foot, build-to-suit facility in Waterloo. Developed in partnership with ElmTree Funds and Ryan Cos. US Inc., the project features 6,800 square feet of office space, a driver’s lounge, 30 loading dock doors and two drive-in doors. TVS’s first Iowa facility is in Iowa City. Ryan is also building another 225,000-square-foot property for TVS in Davenport that is scheduled for completion in October. Ryan served as developer and builder of the Waterloo facility, and Ryan A+E Inc., Ryan’s design studio, served as the architect. ElmTree served as facility owner and financier.

The post TVS Supply Chain Solutions Opens 225,113 SF Industrial Facility in Waterloo, Iowa appeared first on REBusinessOnline.

Planet Fitness Opens 15,496 SF Location at Outlets of Des Moines

Kristin Harlow — Mon, 15 Sep 2025 13:35:09 +0000

ALTOONA, IOWA — Planet Fitness has opened a 15,496-square-foot location at the Outlets of Des Moines in Altoona. Founded in 1992 in Dover, N.H., Planet Fitness is one of the largest franchisors and operators of fitness centers in the world. As of June 30, there were 2,762 clubs worldwide. Outlets of Des Moines is an open-air lifestyle center home to stores such as Coach Outlet, Polo Ralph Lauren, Kate Spade Outlet, Ann Taylor Factory Store and Nike Factory Store.

The post Planet Fitness Opens 15,496 SF Location at Outlets of Des Moines appeared first on REBusinessOnline.

Cedar Rapids Continues Unprecedented Growth

Kristin Harlow — Thu, 11 Sep 2025 12:30:00 +0000

By Scott Olson, Skogman Commercial Each year when I update exciting growth in Iowa’s second largest city, it is hard to imagine the pace can continue despite what we hear nationally about high interest rates, tariffs and inflation. Plus, this great city adapts after natural disasters to quickly recover and create a better place to work and call home. Our latest national rankings reflect this effort, skill and dedication: • No. 1 city for affordable housing in America (WalletHub, 2025) • No. 3 best place to live in the Midwest (Spacewise, 2025) • No. 12 best city for economic opportunity (U.S. News & World Report, 2025) • No. 4 city with most affordable rent (WalletHub, 2025) • No. 17 best city to buy a house in America (Niche.com, 2025) • A top 100 best city for jobs in America (WalletHub, 2025) • A top 100 best place to retire in America (Niche.com, 2025) • No. 7 safest city in America (WalletHub, 2025) • No. 33 best run city in America (WalletHub 2024, top 40 ranking since 2017) In fall 2024, the City of Cedar Rapids was selected to participate in the Bloomberg Harvard Innovation Track as a continuation of the…

The post Cedar Rapids Continues Unprecedented Growth appeared first on REBusinessOnline.

Investment from Tech Companies, Developers Shows Potential of Quad Cities

Kristin Harlow — Thu, 04 Sep 2025 12:30:00 +0000

By Chris Beason, NAI Ruhl Commercial Co. As we move through 2025, the commercial real estate market in the Quad Cities region continues to adjust to tighter capital markets, rising costs and evolving consumer and business preferences. The bi-state region of the Quad Cities includes Moline, East Moline and Rock Island, Illinois; and Davenport and Bettendorf, Iowa, as the main core cities. The Quad Cities is the largest metro area between St. Louis and Minneapolis on the Mississippi River. When you look at the fundamentals like industrial absorption, land sales and retail demand, the Quad Cities continues to outperform expectations. The level of investment we’re seeing from both global tech companies and regional developers shows long-term confidence in the strength and potential of our market. Pivotal year for industrial The Quad Cities market mirrored the national trends with increased development of industrial buildings and rising rental rates. While the new industrial development we have seen locally over the past three years is to be celebrated, there is still a shortage of smaller 10,000- to 50,000-square-foot buildings. This is especially true for companies that desire to purchase real estate. There is significantly more inventory for lease of smaller product available than…

The post Investment from Tech Companies, Developers Shows Potential of Quad Cities appeared first on REBusinessOnline.

CBRE Brokers Sale of 1,610-Unit Apartment Portfolio in Metro Des Moines

Kristin Harlow — Tue, 05 Aug 2025 13:58:28 +0000

DES MOINES, IOWA — CBRE has brokered the sale of the Wings 914 Portfolio, a collection of six multifamily properties totaling 1,610 units in metro Des Moines. The transaction marks the largest multifamily deal ever recorded in the state of Iowa, according to CBRE. Cy Fox, Matt Bukhshstaber, Ray Hamilton and Clark Matthews of CBRE represented the undisclosed seller, which directed a significant portion of the assets to charitable causes through the National Christian Foundation. The properties were built between 1988 and 2015. Further details were not provided.

The post CBRE Brokers Sale of 1,610-Unit Apartment Portfolio in Metro Des Moines appeared first on REBusinessOnline.

Davis Purchases Two-Building Healthcare Portfolio in Iowa, Minnesota for $34.1M

Kristin Harlow — Fri, 25 Jul 2025 13:42:09 +0000

CORALVILLE, IOWA, AND MAPLEWOOD, MINN. — Davis Healthcare, on behalf of its Davis Medical Investment Fund, has acquired a two-building healthcare real estate portfolio known as CoralBirch for $34.1 million. The assets are located in Coralville, Iowa, and Maplewood, Minn. More than 70 percent of the space in the buildings is leased to high-credit hospital systems. With this acquisition, the fund owns 17 off-campus ambulatory care buildings totaling more than 750,000 square feet. The Coralville West Medical Building at 2769 Heartland Ave. rises three stories and totals 60,351 square feet. It is situated near the University of Iowa campus. Davis acquired the property for $24.2 million, or roughly $400 per square foot. At closing, the building was 97 percent leased with more than 65 percent of the space occupied by University of Iowa Healthcare, which offers primary care and internal medicine, obstetrics and gynecology, neurology, imaging and rehab and dermatology services. Additional tenants of the building are medical practices focused on obstetrics, radiology and rehab. Constructed in 2010, the building’s common areas and restrooms were renovated in 2022. Birch Run Medical Building at 1747 Beam Ave. totals 27,944 square feet. Davis purchased the single-story property for $9.9 million, or roughly…

The post Davis Purchases Two-Building Healthcare Portfolio in Iowa, Minnesota for $34.1M appeared first on REBusinessOnline.

Casino Queen Marquette in Iowa to Rebrand as Bally’s Marquette, Undergo $21M Transformation

Kristin Harlow — Wed, 23 Jul 2025 13:25:21 +0000

MARQUETTE, IOWA — Casino Queen Marquette will be renamed Bally’s Marquette as part of its move to a newly developed permanent landside facility, set to open in early 2026. The name change will coincide with a $21 million transformation project, which includes relocating the gaming floor ashore and introducing new dining, gaming and entertainment experiences. The rebrand follows Bally’s Corp.’s acquisition of The Queen Casino & Entertainment Inc., the regional gaming company that owns Casino Queen Marquette. The merger was completed in early 2025. The long-standing Mississippi River casino has operated aboard a riverboat for more than 30 years. The transformation into Bally’s Marquette will create nearly 80 new jobs.

The post Casino Queen Marquette in Iowa to Rebrand as Bally’s Marquette, Undergo $21M Transformation appeared first on REBusinessOnline.

Dwight Capital Provides $61.9M in HUD-Insured Loans for Two Multifamily Communities in Iowa, Minnesota

Kristin Harlow — Thu, 17 Jul 2025 14:38:54 +0000

BETTENDORF, IOWA, AND ST. PAUL, MINN. — Dwight Capital has provided two HUD 223(f) loans totaling $61.9 million for Springs at Bettendorf in Bettendorf, Iowa, and The Grove in St. Paul. Menomonee Falls, Wis.-based Continental Properties was the borrower. Springs at Bettendorf is a townhome-style community with 15 two-story buildings totaling 316 units. There are studio, one-, two- and three-bedroom layouts, and 75 units feature attached garages. Residents have access to a fitness center, pool, dog park and car wash station. The Grove is a six-story community with 118 units across studio, one-, two- and three-bedroom layouts. Amenities include a fitness center, rooftop sky lounge, community room and storage units. The property also features 4,300 square feet of ground-floor commercial space across two retail suites. The loan proceeds for both financings will be used to retire existing debt, cover closing costs, complete repairs and establish funds for future capital expenditures.

The post Dwight Capital Provides $61.9M in HUD-Insured Loans for Two Multifamily Communities in Iowa, Minnesota appeared first on REBusinessOnline.

Des Moines Industrial Market Starts to Chip Away at Vacancies

Kristin Harlow — Thu, 10 Jul 2025 12:30:00 +0000

By Harrison Kruse and Ned Turner, CBRE As we near the second half of 2025, the Des Moines industrial market is starting to see a shift in fundamentals, as new deliveries and the pipeline of new big-box speculative warehouse product have come to a complete halt. Like many cities in the upper Midwest post-COVID, the Des Moines MSA saw an influx of out-of-state developers backed by institutional capital go ground up with new big-box product when the economy was stimulated by the Federal Reserve reducing the federal funds rate below 1 percent. This resulted in historically compressed treasury yields and an abundant amount of liquidity injected into the capital markets. This effect on the national economy escalated consumer demand for e-commerce and locally, ag-related products, which are the state of Iowa’s most valuable export on an aggregate basis. The Des Moines MSA between 2021 and 2024 had more than 6.8 million square feet of new industrial space delivered to the market, which is about 10.2 percent of the total market size on a square-foot basis. During those years, net absorption increased on an annual basis between 800,000 and 1.5 million square feet. Pre-COVID, Des Moines’s average net absorption was between…

The post Des Moines Industrial Market Starts to Chip Away at Vacancies appeared first on REBusinessOnline.

Crunch Fitness Opens 60,000 SF Facility in Des Moines

Kristin Harlow — Mon, 07 Jul 2025 13:35:44 +0000

DES MOINES, IOWA — Fitness Ventures LLC, the second largest Crunch Fitness franchisee, has opened its 60th Crunch Fitness with a new 60,000-square-foot facility in Des Moines. Located at 1200 E. Army Post Road, the new club is the company’s second Crunch location in Iowa. Built as a 3.0 Crunch model, the Des Moines location represents a $5 million investment. The club features cardio and strength equipment, a group fitness studio, dry saunas, performance turf, HydroMassage, tanning and the HIITZone. Fitness Ventures has partnered with Meaningful Partners, a private equity firm that invested in the company in 2024. The partnership has helped accelerate growth through a mix of new club development, mergers and acquisitions. Fitness Ventures is on pace to reach 75 clubs by the end of the year. The company plans to open 20 new locations annually.

The post Crunch Fitness Opens 60,000 SF Facility in Des Moines appeared first on REBusinessOnline.

Gantry Secures $20M Permanent Loan for Amazon Distribution Center in Iowa City

Kristin Harlow — Wed, 18 Jun 2025 13:48:41 +0000

IOWA CITY, IOWA — Gantry has secured a $20 million permanent loan to refinance a renovated warehouse located at 2500 Heinz Road in Iowa City. The 346,062-square-foot distribution center is fully leased to Amazon for use as a regional delivery station serving the Cedar Rapids and Iowa City metropolitan areas. The facility occupies a nearly 40-acre site zoned for industrial use with parking, trailer storage and room for expansion. Tony Kaufmann and Joe Foley of Gantry represented the borrower, a private real estate investor. A credit union provided the 10-year, fixed-rate loan, which features partial interest-only payments and no prepayment penalties.

The post Gantry Secures $20M Permanent Loan for Amazon Distribution Center in Iowa City appeared first on REBusinessOnline.

Hanley Investment Group Brokers Seven Retail Property Sales Totaling $18.4M

Kristin Harlow — Wed, 14 May 2025 13:59:31 +0000

CORONA DEL MAR, CALIF. — Corona Del Mar-based Hanley Investment Group Real Estate Advisors has brokered the sales of seven net-leased retail properties totaling $18.4 million on behalf of a Minnesota-based 1031 exchange buyer. Jeff Lefko and Bill Asher of Hanley Investment Group represented the buyer in the transactions, which included a mix of newly constructed single-tenant and multi-tenant assets. Midwest transaction highlights include a 4,616-square-foot property occupied by Total Access Urgent Care in Oakville, Mo., and a 7 Brew ground lease in Des Moines, Iowa. Hanley Investment Group represented the buyer and sellers in association with John Shuff of Pace Properties and ParaSell Inc. for the Missouri and Iowa properties, respectively.

The post Hanley Investment Group Brokers Seven Retail Property Sales Totaling $18.4M appeared first on REBusinessOnline.