Broadway Apartments: NASIS Acquires Premier Multifamily Complex in Des Moines Growth Corridor
The multifamily property scene has witnessed a significant event as NAS Investment Solutions (NASIS) has marked a new acquisition at the heart of Iowa’s growth corridor. The addition of the Broadway Apartments, a sizable multifamily complex in Des Moines, Iowa, offers a fresh opportunity for real estate investors, particularly those navigating the 1031 Exchange needing a reliable and quality replacement property.
Broadway Apartments presents a notable investment avenue not only for these investors but also caters to self-directed IRAs. The acquisition echoes a thriving investment climate as Des Moines, lauded for its economic diversification and a burgeoning tech industry presence, offers a positive outlook for those partaking in the Midwest’s real estate expansion.
The complex itself reflects contemporary residential desires: a trio of stories harboring 120 units built on a substantial 7.83-acre site. With an average home size of 875 square-feet, it’s a space that melds comfort with modernity. Tenants can revel in amenities that resonate with today’s lifestyle demands—an updated clubhouse, fitness amenities, a children’s playground, a dog park for the furry companions, a theater room, and the availability of additional garage spaces for rent—hallmarks of a quintessentially modern living space designed to elevate the resident experience.
Property management and asset oversight rest in the capable hands of National Asset Services (NAS), a reputed commercial real estate company with an established track record of maximizing property value and enhancing the living experience irrespective of the economic backdrop.
As the multifamily entity ushers under new ownership, Karen E. Kennedy, President and Founder of both NASIS and NAS, captures the sentiment precisely: “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. 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.”
The strategic positioning of Broadway Apartments reinforces its appeal—providing residents swift access to a variety of dining and retail experiences, and a stone’s throw from local attractions like Adventureland Amusement Park and the Prairie Meadows Racetrack & Casino. Combined with easy access to major thoroughfares, it’s a prime location designed for convenience and connectivity.
As NASIS and NAS chart their way forward in the multifamily landscape, this acquisition underscores the strategic maneuvers companies are adopting to provide attractive investment propositions to their clients while contributing to the broader economic vigor of regions like Des Moines. It’s a beacon for the Midwest’s capacity for growth, offering a window into the convergence of quality living spaces and investment prosperity.