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JLL Capital Markets Closes Sale of Vue 180 Luxury Apartment Community in The Greater Cincinnati Area of Newport, Kentucky
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JLL Capital Markets sells 93-unit multifamily property in Cincinnati area
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Spruce Properties Expands to Iowa with $57M Portfolio Buy
The six communities comprising some 500 units are scattered across suburban Des Moines, in Ankery, Waukee and Polk City. Dec102020
Lake Shore
BBK Apartments has sold a six-property residential portfolio in suburban Des Moines, Iowa, for $56.8 million. The transaction marks Spruce Properties’ first buy in the state. JLL Capital Markets represented the buyer and arranged a 10-year, 2.8 percent, fixed-rate Fannie Mae acquisition loan. JLL Real Estate Capital LLC will service the financing.
The portfolio includes the 239-unit Lake Shore, the 122-unit Lake Shore Park, the 12-unit Lake Shore Place and the 16-unit Peachtree communities, all located in Ankery. The 54-unit Sunrise Meadows in Waukee and the 52-unit Saylorville Lakeside in Polk City were also part of the deal.