CBRE has arranged the sale of the Wings 914 Portfolio, a six-property, 1,610-unit multifamily portfolio in the Des Moines metropolitan area. The transaction marks the largest multifamily deal ever recorded in the state of Iowa.
CBRE’s Cy Fox, Matt Bukhshtaber, Ray Hamilton and Clark Matthews represented the seller in the transaction. The sellers intentionally directed a significant portion of the assets to charitable causes through the National Christian Foundation. The properties were constructed between 1988 and 2015.
“The Wings Portfolio presented a generational opportunity to acquire one of the most impressive multifamily portfolios in the Midwest,” said Fox, Executive Vice President. “The properties were exceptionally well-designed and built to the highest standards, receiving several energy efficiency awards and earning national recognition. Executing a transaction of this scale demands a world-class team, and we at CBRE were honored to play our part in this historic transaction.”
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development).
