Timberland Partners Acquires 144-Unit Apartment Property in Des Moines

DES MOINES, IOWA — Timberland Partners has acquired Ashley Square in Des Moines for an undisclosed price. The 144-unit apartment property consists of one- and two-bedroom floor plans. Built in 1986, the five-building property features amenities such as an outdoor pool and clubhouse. Planned improvements include new signage, fencing and renovations to unit interiors and clubhouse. All units will receive new flooring, lighting, appliances, countertops and in-unit washers and dryers. This is Timberland’s ninth property that it has acquired in the Iowa market. William Ryan, Alex Blagojevich and Michael Sullivan of Berkadia represented the undisclosed seller.