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JLL (“Jones Lang LaSalle”) is pleased to present the BBK Portfolio, a 507-home, six-asset apartment portfolio located in suburban Des Moines, Iowa in the vibrant communities of Ankeny, Waukee, and Polk City. The BBK Portfolio offers investors excellent locations with strong market fundamentals and a rapidly growing population. The properties are primarily located in Polk County which is the most populous county in Iowa with 478,204 residents.
Residents enjoy quick access to the top employers of Ankeny and Des Moines including Wells Fargo, Mercy Medical Center, Principal Financial Group, and Athene USA Corporation, as well as limitless shopping, dining, and entertainment destinations, most notably in and around the outlets of Des Moines. The BBK Portfolio offers investors significant scale (507 homes) in suburban Des Moines that provides the unique opportunity to maximize management efficiencies through consolidating operations.
- Excellent Area Demographics
- The population within a three-mile radius has grown 37.5% over the last 10 years with over 20% of area residents representing the millennial demographic
- Strong Market Fundamentals
- The Ankeny submarket has shown impressive performance with 3.38% YoY effective rent growth in Q4 2019 and a stabilized forecasted occupancy above 95%
- Accessible to Major Employers
- The properties are in proximity to major roadways such as Interstate 35, Highway 69, and Highway 6 which provide direct access to downtown Des Moines and almost 14 million square feet of office space
- Outstanding School Districts
- The Ankeny Community School District and Waukee Community School District are widely regarded as the 6th and 8th best public school systems respectively in the state of Iowa
- Proximity to Des Moines International Airport
- The Des Moines International airport is only 30 minutes from the BBK Portfolio and services nearly 3 million passengers each year on both domestic and international flights