Northmarq’s Midwest investment sales team led by Parker Stewart, managing director, Dominic Martinez, senior vice president, and Anthony Martinez, associate, arranged the sale of Highpoint at Pella, a 100-unit multifamily property at 340 East 13th St. in Pella, Iowa.
Northmarq represented the seller, Axiom Equities, in the transaction. The buyer is a local investor, HighPoint Apartments, LLC, which acquired the asset for $11.05 million.
Located 45 miles from downtown Des Moines, Highpoint at Pella offers one- and two-bedroom apartment homes near Lake Red Rock, the largest lake in Iowa. Pella is home to three privately held, global manufacturing companies, including Pella Corp., the well-known maker of windows and doors, and Vermeer Corp.
Built in 1999, the community features a 24-hour fitness facility, pool, BBQ grilling stations, large floorplans and more.
