ARTISAN, Ballast, & General Capital Sell Hunter’s Run in Newton, IA (4.25.2023)
ARTISAN Capital Group (“ACG”), one of the largest apartment owners in Iowa, and two Wisconsin based sponsors, Ballast Real Estate Partners (“BREP”) and General Capital Group (“GenCap”), are pleased to announce the sale of a 72-unit apartment complex – Hunter’s Run.
This Low-Income Housing Tax Credit apartment community located in Newton, IA was built in 1995.
ACG, BREP and GenCap acquired the community in May of 2019 through a joint venture partnership; this JV has partnered on the acquisition of over 500 units throughout Iowa.
Hunter’s Run is a desirable place to call home given its proximity to Des Moines (~30 miles) and the fact it is one of the largest communities in the submarket. Sitting on seven acres of ample greenspace, the community features 11 apartment buildings, a clubhouse, two-bedroom townhomes, and one-, two-, and three-bedroom floorplans.
“This was a successful deal thanks to our collective hard work and continued investment strategy focused on markets with strong fundamentals” said Ryan Cahalan, a Partner at ARTISAN Capital Group. “We are extremely happy with the risk adjusted return that we generated for our investors and look forward to achieving similar results on future deals.”
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ABOUT ARTISAN CAPITAL GROUP
ARTISAN Capital Group, headquartered in Chicago, IL with a regional office in Des Moines, IA, is a leading real estate investment firm that owns and manages market-rate multi-family and student housing communities across six states presently. With a Midwest-focused market-rate strategy and a national approach for student housing, ACG has grown its portfolio to over 6,500 apartment units since its formation in 2017.
