HREC Investment Advisors has arranged the sale of the 116-guestroom TownePlace Suites Des Moines Urbandale located in Urbandale, Iowa.
The property was acquired by Whitestone Companies.
HREC Investment Advisors exclusively represented an affiliate of JDI Realty LLC on this transaction. The marketing and negotiations were led by Herb Warmbrodt, Lee Kerfoot, Adam Lallani and Taylor Ponath with HREC.
Whitestone Companies, the buyer, is a prominent real estate investment firm based in Columbus, Ohio. Its portfolio encompasses Marriott and Hilton properties across 10 states.
The hotel is located in the western suburbs of Des Moines at the I-80/I-35 and 86th Street interchange, just minutes from Downtown Des Moines. Immediately proximate to the property are institutions such as John Deere Intelligent Solutions and John Deere Financials’ HQs, as well as Dupont Pioneer.
There are several other well-established businesses on Northpark Drive, too, including banks, veterinarians, restaurants, mortgage service companies, physical therapy offices, and more that are all only a short walk from the property.
