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Polo Club, LLC / Premier Companies Sells West Des Moines Multifamily For $38 Million
SOLD
$38,000,000
MultiFamily
Sold 04/03/2025
SOLD
Polo Club, LLC / Premier Companies Sells West Des Moines Multifamily For $38 Million
6201 E P True Parkway
See Similar DealsMultiFamily
Sold 04/03/2025
Summary
IOWA
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in this transaction is a MultiFamily asset located at 6201 EP True Parkway in West Des Moines, IA. The sale price for the property was $38,000,000, with a total of 277 units at a price per unit of $137,184.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $38,000,000
- Address: 6201 EP True Parkway
- Market: West Des Moines, IA
- Units: 277
- Price Per Unit: $137,184
- Seller: Polo Club, LLC / Premier Companies
- Brokerage: Greysteel
- Brokers: BJ Connolly, Ryan Carter & Zachary Schneider
This transaction features Polo Club, LLC and Premier Companies as the sellers, while the deal was facilitated by brokers BJ Connolly, Ryan Carter, and Zachary Schneider, representing Greysteel. The involvement of these professionals indicates a structured approach to the sale process for this MultiFamily asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,026,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$135,005.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$180,139.39
Annual Debt Service$2,161,672.64
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