ARTISAN Acquires Pointe 28 Apartments Ankeny, IA (9.23.2025)
ARTISAN Capital Group ("ACG") is pleased to announce the acquisition of Pointe 28 (formerly Tradition Apartments), a 216-unit apartment community in Ankeny, IA. ACG has partnered with MLG Capital on the acquisition and completed the purchase on September 18, 2025, further expanding its presence in the Central Iowa market with now over 3,000 apartment units in the region.
Pointe 28 features one, two, and three-bedroom apartment units with full-size washers and dryers, nine-foot ceilings (vaulted ceilings on third-floor units), private patios or balconies, garages, and fireplaces. The community also offers a range of building amenities, including a large clubhouse with community and game rooms, a 24-hour fitness center, heated swimming pool and Jacuzzi, resident business center, and a sports court.
As part of its operational plan, ACG plans comprehensive capital improvements designed to provide the best possible resident experience. As noted above, the community is being rebranded to reflect these enhancements, which include upgraded common areas and amenities, systematic unit renovations, and enhanced landscaping.
The acquisition also included an adjacent 7.13-acre, shovel-ready development site approved for 144 additional units, creating the potential to expand the property footprint to 360 units and generate further long-term value.
ACG secured favorable financing from West Bank to support the acquisition.
“We see a clear path to create value through renovations, a rebrand, and operational improvements, as we have successfully executed at other communities,” said Ryan Cahalan, Partner at ARTISAN Capital Group.
“ACG is excited to further expand our Des Moines area portfolio, and this acquisition represents another unique value-add opportunity in Ankeny, one of the most dynamic suburbs in the Midwest,” said Sean Fogarty, Partner at ARTISAN Capital Group.
ARTISAN Management Group ("AMG"), ACG’s affiliate management company, will oversee operations at Pointe 28, ensuring a smooth transition and the effective execution of ACG’s value-add strategy.
---
ARTISAN Capital Group presently owns and manages affordable, market-rate, and student housing communities across eight states. ACG has grown its portfolio to nearly 7,700 apartment units since the company was formed in 2017 with a current AUM of approximately $1.2B. ACG is headquartered in Chicago, IL, with a regional office in Des Moines, IA, which it shares with its property management vertical ARTISAN Management Group.
About MLG:
MLG Capital is a private real estate investment company with over 38 years of experience. The firm and associated entities have active, exited, or currently pending investments totaling ±50.9 million square feet of total space across the United States, inclusive of more than 44,200 multi-family units. The firm and associated entities actively owns, or have exited, investments totaling ±$7.9 billion* as of 6/30/2025.
* For sold properties, actual sales price is reported. For active and pending investments, the Estimated Current Value is based on the Managing Member's estimate of current value. Recent acquisitions are generally valued at the acquisition price.
