REBusinessOnline

Essex Purchases 121-Unit Active Adult Community Near Des Moines

URBANDALE, IOWA — Essex Communities has purchased The Reserve on Walnut Creek in Urbandale near Des Moines. The 121-unit active adult community is reserved for residents age 55 and older. Essex plans to convert the community from an entrance-fee model to a rental model. It will be rebranded as The Arbordale and undergo a multimillion-dollar renovation. Essex will update apartment interiors and community spaces as well as expand services and amenities. The seller and sales price were undisclosed.

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