March 16, 2023
For immediate release
Archstone Capital Partners LLC announces the acquisition of a 132-unit apartment community in Urbandale, Iowa.
The property, which was previously under long-term ownership, consists of 100% classic-style units and several amenities that are ripe for upgrades. It is located in an excellent neighborhood surrounded by single-family homes and provides Archstone with a strategic opportunity to leverage its value-add capabilities.
The property will undergo a rebranding and renovation initiative to enhance the resident experience, including exterior and interior upgrades. The property will be renamed "Bexley Urbandale."
“We're thrilled to acquire another quality asset in Des Moines,” said Archstone CEO Chris Salazar. “With all of the turbulence in the capital markets, our team held it together to get this one done and acquire a tremendous asset.”
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About Archstone
Archstone is a multifamily investor, property manager, and construction company, and has successfully transacted over 1,000 units in the Midwest.