Dakota REIT Acquires Multifamily In Des Moines For $29M

The multifamily property located at 415 Southwest 11th Street in Des Moines, AI, was recently sold for $29,000,000. The transaction involved 142 units with an average price per unit of $204,225. The total square footage of the property is 189,946, resulting in a price per square foot of $153.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $29,000,000
• Units: 142
• Price Per Unit: $204,225
• Square Footage: 189,946
• Price Per Square Foot: $153
• Buyer: Dakota REIT
• Seller: George Sherman & Chris Sherman - Sherman Associates
• Brokers: Heidi Addo, Steve Michel & Peter Michel - Michel Commercial

The key individuals and companies involved in this transaction include Dakota REIT as the buyer and George Sherman & Chris Sherman from Sherman Associates as the sellers. The brokers representing the deal were Heidi Addo, Steve Michel, and Peter Michel from Michel Commercial.