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HUBBELL REALTY COMPANY EXPANDS APARTMENT PORTFOLIO

West Des Moines, IA (June 2, 2016) – Hubbell Apartment Living, a growing business within Hubbell Realty Company, acquired four properties from Invespro Inc. yesterday. The properties are located in Sioux Falls, South Dakota, and Urbandale, Iowa. The acquisition of these 606 apartment units brings the total number of units owned and managed by Hubbell to more than 4,400 in a multi-state region.

“These properties are the perfect addition to our already well-positioned portfolio of apartment communities throughout Des Moines and Sioux Falls,” said Darcy Valline, vice president – multi-family.

The acquired properties include Carrington Court (228 units) and Westbrooke Apartments (120 units) in Sioux Falls and Candle Ridge (138 units) and Parkway Apartments (120 units) in Urbandale. “With this acquisition, we are able to reunite Candle Ridge with our current community Bristol,” Valline said. The new property will be rebranded as Bristol Ridge.

Hubbell Realty Company continues to grow their investment in multi-family through both new construction and strategic acquisitions.

The seller, Invespro, Inc., was represented on a portion of the sale by Rick Krause and Cy Fox of CBRE|Hubbell Commercial. 

Hubbell currently has an additional 800 units under development throughout the metro including Cadence in Johnston as well as 5Fifty5, Verve, the final two phases of Cityville on 9th, Vue, and Dwell in downtown Des Moines.

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