DES MOINES, IA – NAS Investment Solutions (NASIS), a national sponsor known for high quality passive real estate investments with reliable yield performance, has acquired Broadway Apartments, a three story, 120-unit multifamily property complex in Des Moines, Iowa.
The acquisition of Broadway Apartments creates an investment opportunity for all real estate investors especially for those 1031 Exchange investors who are in immediate need of a quality replacement property. It is also suitable for self-directed IRAs and represents a narrow window of opportunity for accredited investors to participate.
National Asset Services (NAS), one of the Country’s leading commercial real estate companies, known for maximizing property value in all economic situations while enhancing residents’ living experience, will be responsible for overseeing property management as well as asset managing the multifamily complex for the property’s investment clients.
Built in 2015, the Broadway Apartments property features an average home size of 875 square-feet and is located approximately nine miles northeast from the heart of downtown Des Moines on a 7.83-acre site. Community amenities include an updated clubhouse, fitness center, playground, dog park, theater room and on-site management. There are additional garage spaces available for rent.
“We are excited to offer our clients the opportunity to invest in a property located in one of the strongest growth markets in the Midwest,” commented Karen E. Kennedy, President and Founder of NAS Investment Solutions and National Asset Services. “With significant investments from major tech industry companies, economic diversification and a lower cost of living, Des Moines is on a solid path to more growth and development.”
Located near restaurant and shopping venues, Broadway Apartments offers residents a variety of entertainment options right outside their doorstep. Adventureland Amusement Park, Prairie Meadows Racetrack & Casino, and Outlets of Des Moines are within two miles of the property. With proximity to I-80 and Hwy 6, there is easy access to major employers and downtown Des Moines.