Skip to content
Homepage
  • Market
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Sector
    • CRE
    • Education
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Events
  • Real Estate Awards
  • Subscribe
  • Publications

Berkadia sells four-property apartment portfolio in Iowa

October 21, 2019
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Berkadia closed the combined sale of a portfolio of four multifamily properties in Davenport, Iowa. Director Parker Stewart and Senior Managing Director Alex Blagojevich of Berkadia’s Chicago office, along with Senior Director Michael Sullivan of Berkadia’s Kansas City office, together completed the sale on behalf of the seller, Iowa-based Advance Homes, Inc.

The buyer was Colorado-based Monarch Investment and Management Group, and the deal closed on Aug. 23.

Senior Managing Director Peter Benedetto of Berkadia’s Detroit office also secured financing on behalf of the buyer for the acquisition of this portfolio.

The properties in the portfolio include:

• The Racquet Club, located at 5416 Appomattox Road, the property affords convenient access to Candlelight Creek, Quad City Botanical Center and The Rock Island Arsenal. The 149-unit property was completed in 1980 and features one-, two- and three-bedroom floor plans with walk-in closets, air conditioning and private patios and balconies. Community amenities include a pool, a playground, a tennis court and laundry facilities.

• Candlelight Commons, located at 605 W 53rd St allows for convenient access to St. Ambrose University and Interstates 80 and 74. The 147-unit property was completed in 1975 and features two, and three-bedroom floor plans with in-unit washer and dryers, air conditioning and walk-in closets. Community amenities include large walk-out basements and a pool.

• Candlelight Village, located directly across from Candlelight Commons at 5417 North Gaines Street, this 70-unit property was completed in 1979 and includes one- and two-bedroom floor plans.

• Candlelight Colony, adjacent to Candlelight Commons, and located at 5135 North Ripley Street, this 47-unit property was completed in 1975 and consists entirely of studio floor plans.

Tags
BerkadiaDavenportIowamultifamily
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisMultifamily

Habitat fully leases apartments in second phase of 43 Green in Chicago

June 23, 2025
MinnesotaSeniors Housing

Minnetonka-based New Perspective adds five seniors housing communities to its portfolio

June 23, 2025
MissouriCRE

Kansas City’s Newmark Zimmer names associate specializing in industrial

June 23, 2025
MinnesotaHospitality

Marcus & Millichap brokers sale of 38-room hotel property in Sleepy Eye

June 23, 2025

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Education
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Events
  • Office Locations
  • Advertise
  • Terms and Conditions
  • Contact
© 2025 REjournals.com