DES MOINES, IOWA — Marcus & Millichap has arranged the sale of two apartment complexes in Des Moines — the 168-unit Timberland Crest and the 86-unit Meadow Chase. Built in 1990, the 79,040-square-foot Meadow Chase sold for $85,500 per unit. The property’s market-rate apartments average 930 square feet, and the average rent is $875 per month. The market-rate units at Timberland Crest have an average unit size of 728 square feet. The average rental rate per unit is $628 per month. Built in 1973, the multifamily community is located at 4530 Lower Beaver Road. David Gaines and Alex Blagojevich, both vice president investments at Marcus & Millichap, represented the sellers in each transaction. Barry A’Hearn in Marcus & Millichap’s Cedar Rapids office is the firm’s broker of record in Iowa.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Request media kit

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties