TWO IOWA APARTMENT PROPERTIES TRADE

DAVENPORT AND WEST DES MOINES, IOWA — CB Richard Elis (CBRE)/Hubbell Commercial has completed the sale of two Class A multifamily communities in Iowa. The first property is Alexis at Perry Pointe Apartments, a 192-unit community located at 5001 Sheridan St. in Davenport. The second property is The Mansions at Jordan Creek, a 140-unit community loctaed at 355 88th St. in West Des Moines. The CBRE team of Linda Gibbs and Timothy Sharpe represented the sellers in both deals and procured the buyer, MFR Partners XI LLC. The acquisition price was not disclosed.