NAS Investment Solutions (NASIS), sold all available investment equity in the company’s latest multifamily investment property in just sixty days from the date of the asset’s acquisition.
Twenty-two investors purchased fractional ownership interest in Broadway Apartments, a three story, 120-unit multifamily property complex in Des Moines, IA.
“The shortened time frame for selling all equity in the property is indicative of investors’ demand for high quality multifamily real estate investments that have been solidly underwritten by experienced commercial real estate professionals,” commented Karen E. Kennedy, President and Founder of NAS Investment Solutions and National Asset Services. “Quality real estate such as Broadway Apartments is a viable investment alternative that performs independently of stock market fluctuations. We are actively seeking multifamily properties for investment sponsorship in economically diverse growth markets.”
Assuming responsibilities for asset management and property management for the newly acquired property is National Asset Services, (NAS) one of the Nation’s leading commercial real estate companies.
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.
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.
