$73M Hotel Restoration Project Underway in Sioux City, Iowa

SIOUX CITY, IOWA — The Warrior Hotel and neighboring Davidson Building in downtown Sioux City will undergo a $73 million restoration. A groundbreaking ceremony took place on Tuesday, Feb. 5. The 10-story hotel and six-story building are slated to open in the fall of 2020 as The Warrior Hotel and Davidson Apartments. Marriott will operate the hotel as an Autograph Collection hotel. Both the Davidson and The Warrior properties, built in 1913 and 1930, respectively, have been vacant for the …

Ders Group Underway on $275M Mixed-Use Development in Tiffin, Iowa

TIFFIN, IOWA — The Ders Group is underway on the development of Park Place in Tiffin, about 10 miles west of Iowa City. The $275 million mixed-use development will be situated on 400 acres. In addition to retail and office space, plans call for approximately 2,000 apartment units and 200 single-family lots. The Ders Group, headquartered in Coralville, Iowa, acquired all of the land in 2016. The developer completed infrastructure construction last fall.  Andersen Square, a city center, is …

Dougherty Provides $6.9M Refinancing for Apartment Property in Spencer, Iowa

SPENCER, IOWA — Dougherty Mortgage has provided a $6.9 million Fannie Mae loan for the refinancing of Windcrest Village in Spencer in northwestern Iowa. The 87-unit apartment property includes laundry facilities, a fitness center and children’s playground. The 12-year loan features a 30-year amortization schedule. Windcrest Village LLC was the

R&R Opens New Corporate Headquarters in West Des Moines

WEST DES MOINES, IOWA — R&R Realty Group has opened its new headquarters at Westfield Campus, a 180,000-square-foot, multi-tenant office property in West Des Moines. The campus includes two 80,000-square-foot buildings connected by Westfield Commons, a meeting space with conference areas, a coffee shop, fitness center and rooftop terrace. R&R occupies the entire second floor of the north building for approximately 25,000 square feet. Joining R&R at the office property are several …

Forever 21 to Open at Outlets of Des Moines

DES MOINES, IOWA — Forever 21 is scheduled to open on Saturday, Dec. 15 at the Outlets of Des Moines in Iowa. The store will feature a section for men, women, girls, plus-size apparel and accessories. This is the eighth store to open at the outlet center this year. Developed by New England Development, Outlets of Des Moines features stores such as Old Navy Outlet, Nike Factory Store, Tommy Hilfiger, Under Armour and Express Factory Outlet. The 300,000-square-foot property opened in October …

Carter Validus Purchases Healthcare Facility in Clive, Iowa for $23.5M

CLIVE, IOWA — Carter Validus Mission Critical REIT II Inc. has purchased the Clive Healthcare Facility for $23.5 million. The 58,156-square-foot property is situated on one acre in Clive, about 10 miles east of Des Moines. Constructed in 2008, the facility is fully leased and anchored by an ambulatory surgery center. The seller was not

Stahl to Construct $20M Elementary School in Ankeny, Iowa

ANKENY, IOWA — Stahl has been awarded the construction management contract for a new 101,403-square-foot elementary school in Ankeny. Construction of the $20 million project is expected to begin in March 2019. The new school will serve 750 students in grades K-5. FRK Architects + Engineers is the project partner. Completion is slated for June 2020. Funding for the school came from an $18 million bond referendum approved by the community in February

Kraus-Anderson Completes 9,500 SF Casino for Ponca Tribe in Carter Lake, Iowa

CARTER LAKE, IOWA — Kraus-Anderson Construction has completed the first phase of Prairie Flower Casino on behalf of the Ponca Tribe of Nebraska. The 9,500-square-foot gaming facility is located in Carter Lake, a northwest suburb of Omaha. The property will include 200 slot-style games and a full-service bar. Approximately 100 individuals will be employed at the casino. The Ponca Tribe of Nebraska has nearly 4,300 tribal citizens, with almost half of them residing in the states of Iowa and …

Boulder Group Arranges $8.7M Sale of Property Net Leased to BioLife Plasma in West Des Moines

WEST DES MOINES, IOWA — The Boulder Group has arranged the sale of a single-tenant property net leased to BioLife Plasma in West Des Moines. The newly constructed building is located at 6380 Village View Drive. BioLife Plasma has approximately 14 years remaining on its lease. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based investment fund. A West Coast-based real estate fund was the buyer, which also purchased a BioLife Plasma property in Mount Juliet, …

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