This is the second partnership between ACG and Eastham, following the acquisition of Cambridge Court in West Des Moines earlier in 2023. Wakonda Village is another significant addition to ARTISAN's growing Midwest portfolio. This acquisition is also part of ARTISAN's ongoing expansion in the Des Moines market, aimed at diversifying its investment portfolio which includes communities in Des Moines and several surrounding suburbs.

Wakonda Village comprises 382 apartments units located on the south side of Des Moines, adjacent to the renowned Wakonda Country Club and just one block from the thriving Fleur Drive retail corridor. Wakonda Village offers residents a prime location with convenient access to downtown Des Moines as well as the Des Moines International Airport. The community offers the best amenities in the submarket including a large resort style pool, recently updated fitness center and a dog park.

Capital projects at Wakonda Village will include apartment unit upgrades and a comprehensive range of site and interior improvements, covering upgrades to parking lots, sidewalks, landscaping and hallway paint/carpet updates. Exciting additions are also planned including pickleball courts and grill stations which will enhance resident amenities. These enhancements reflect ACG's commitment to providing a superior standard of living and adding long-term value to the community.

Sean Fogarty, Partner at ARTISAN Capital Group, expressed enthusiasm for the acquisition, stating, "Wakonda Village aligns with our strategy of unlocking value in key markets. We look forward to implementing strategic renovations and capital improvements that will elevate the community and generate long-term value." Ryan Cahalan, Partner at ARTISAN Capital Group added, “Wakonda is another terrific investment in Des Moines which continues to be the fastest-growing market in the Midwest.”

West Bank, located in West Des Moines, Iowa, provided financing for the investment. 

ACG's management arm, ARTISAN Management Group ("AMG"), will oversee operations at Wakonda Village.

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ABOUT ARTISAN CAPITAL GROUP

ARTISAN Capital Group, headquartered in Chicago, IL with a regional office in Des Moines, IA, is a leading real estate investment firm that owns and manages market-rate multi-family and student housing communities across six states presently. With a Midwest-focused market-rate strategy and a national approach for student housing, ACG has grown its portfolio to over 6,500 apartment units since its formation in 2017.