Built in 1967, 1985-1986, The Drake consists of four garden-style apartment buildings less than a mile north of Interstate 235 while Chetwynd includes two buildings built in 1916 & 1964. Both properties are located within three blocks of Drake University and near many of the area’s amenities. The properties also provide excellent accessibility to the Des Moines area and cater to both student and non-student populations.

“We are very pleased with the excellent outcome of our value-add strategy and disposition of these two assets,” said Mike Perry, a Partner at ARTISAN Capital Group. “Our renovations of both communities coincided with other neighborhood investments that increased the values of these properties during our hold period.”

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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.