Dakota REIT announces the acquisition of Nexus at Gray’s Landing, a 142 - unit multifamily property located in a growing pocket near downtown Des Moines, IA. This luxury property was built in 2018 and features modern finishes with resort-style amenities. The property offers convenient access to shopping and dining in downtown with easy access to outdoor attractions and major highways.
“I am excited to continue our growth in the Des Moines market with the acquisition of a Class A multifamily community in a desirable location near downtown Des Moines.” Matt Pedersen, Dakota REIT President. “The economics of this acquisition are highly accretive to Dakota REIT’s portfolio and challenging to duplicate with current construction costs.
Dakota REIT’s investment objective is to generate attractive current income and equity growth by investing in diversified real estate assets in the Midwest. Des Moines, IA is a relatively new market for Dakota REIT and fits Dakota REIT’s assessment of a growth market due to its above average population and job growth, as well as low unemployment enjoyed by the upper Midwest.
About Dakota REIT
Dakota REIT has continued a 26-year track record of consistent distribution yields and share value appreciation. Dakota REIT offers a diverse portfolio of properties consisting of multifamily and commercial property, across the Midwest. Dakota REIT’s press release and additional information are available on its website at www.dakotareit.com or by calling Investor Relations at 701-239-6879.
Contact Information
Peter J. Tanis, CCIM
Chief Investment Officer
Dakota REIT
c.952.210.3792
