CB Richard Ellis/Hubbell Commercial Advises Aspen Square Management on $5.35 Million Multi-Unit Sale of Meadow Chase Apartments and Townhomes
West Des Moines, IA (September 18, 2007) – CB Richard Ellis/Hubbell Commercial, Iowa’s largest commercial real estate broker, announced today that its Private Client Group advised Aspen Square Management in the sale of its multi-unit housing property located in West Des Moines, Iowa to 1031 Meadow Chase Apartments LLC in a transaction valued at $5.35 million. The 87-unit property, known as Meadow Chase Apartments and Townhomes, includes 50 apartment units and 37 townhomes. The 80,400 square foot property is located at 5234 Boulder Drive in West Des Moines and is 99% occupied. The Meadow Chase Apartments and Townhomes were built in 1990. The firm completed the transaction through a coordinated effort of its Iowa Private Client Group, consisting of Vice Presidents of CB Richard Ellis/Hubbell Commercial Linda Gibbs, CCIM, SIOR and Tim Sharpe, CCIM, SIOR. Through a vast nationally-integrated network of private client group professionals, the Iowa Private Client Group is able to assist in the acquisition, disposition or exchange of commercial real estate anywhere in the country.