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CBRE/HUBBELL COMMERCIAL ARRANGES $33 MILLION SALE OF WINDSOR ON THE RIVER

West Des Moines, IA (February 7, 2012) – CBRE/Hubbell Commercial has brokered a $33 million sale of Windsor on the River. The 424 unit complex is a Class A apartment community located at 2415 Oxford Lane, Cedar Rapids, IA. Windsor on the River was built in 1982 and remodeled in 2008.  The community includes 1, 2, and 3 bedroom luxury apartments with resort-style amenities.

Linda M. Gibbs, CCIM, SIOR and Timothy J. Sharpe, CCIM, SIOR, CBRE/Hubbell Commercial Senior Vice Presidents, represented the seller and procured the buyer.

“These outstanding luxury apartments are situated on a bluff overlooking the Cedar River. It’s an incredible setting in Cedar Rapids,” stated Gibbs.

“Multifamily is a popular asset type for investors across the country including the Midwest, and Windsor on the River is one of the largest multifamily transactions in Iowa in the last twelve months,” commented Sharpe.

Linda M. Gibbs and Timothy J. Sharpe manage the CBRE Private Capital Group practice for the state of Iowa specializing in the acquisition and disposition of investment properties.

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