CBRE Arranges Sale of 312-Unit Cityville on 9th in Des Moines

CBRE has arranged the sale of Cityville on 9th, a 312-unit multifamily property in Des Moines. ARTISAN Capital Group purchased the property for an undisclosed amount.

CBRE’s Cy Fox, Ray Hamilton and Matt Bukhshtaber represented the seller in the transaction.

"Despite the uncertainty around interest rates, Des Moines’ population growth, robust economy, relatively low new supply and strong underlying fundamentals continue to create a compelling story for multifamily investors looking for stability,” said Fox. “Cityville on 9th is the largest apartment community in downtown Des Moines that offers an unmatched amenity package and excellent accessibility to all that downtown has to offer.”

Cityville on 9th is located at 550 SW 9th St., proximate to Principal Park, Gray’s Lake and the historic Court District. Built in 2015-2018, the property features a range of studio-, one-, two- and three-bedroom floor plans and 48,000 square feet of commercial space.

Community amenities include a resort-style outdoor pool and sundeck, a 24-hour fitness center, an outdoor fire pit, a theater room, a business center with a conference room, heated parking, a dog park and a coffee bar.