Dakota REIT announces the acquisition of White Oak Apartments an 88 - unit multifamily property in Johnston, IA, a suburb of Des Moines. Johnston has experienced strong growth in recent years and boasts a highly educated workforce across multiple large employers. The White Oak Apartments are located within walking distance of an elementary and middle school, as well as adjacent to a childcare center. The property features in-unit washer/dryers, upscale finishes, 9 foot ceilings, fitness center and garages.
“I am excited to enter the Des Moines market with the acquisition of a class A multifamily property.” Matt Pedersen, Dakota REIT Executive Vice President. “This is a great addition to our portfolio and fits Dakota REIT’s investment strategy focused on quality multi-family, industrial and grocery-anchored assets located in growing markets in the upper Midwest.”
Dakota REIT’s investment objective is to generate attractive current income and equity growth by investing in diversified real estate assets in the upper Midwest. Des Moines, IA is a 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 un-employment enjoyed by the upper Midwest.
About Dakota REIT
Dakota REIT has continued a 23-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, including office, warehouse and industrial space operating across the upper 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.