BAM Capital Acquires 434-Unit Autumn Ridge Condo Neighborhood Positioned in Quick Rising Des Moines Submarket of Waukee

0
405
BAM Capital Acquires 434-Unit Autumn Ridge Apartment Community Located in Fast Growing Des Moines Submarket of Waukee

DES MOINES, IA – Indianapolis, Indiana-based multifamily syndication company BAM Capital is announced its recent acquisition for the BAM Multifamily Growth & Income Fund III: Autumn Ridge.

Autumn Ridge is a 434-unit institutional quality, garden-style apartment community that was developed in 2017 and 2019. It is located in Waukee, Iowa, one of the fastest-growing suburbs of Des Moines, Iowa.

“The value-add potential both in utilizing our economies of scale in Des Moines and bringing rents in line with the competition in the area more than exceeds BAM Capital’s strict acquisition criteria,” says Tony Landa, Chief Investment Officer.

“Des Moines is an emerging market similar to Indianapolis a few years ago,” says Ivan Barratt, Founder & CEO. Autumn Ridge will be BAM Capital’s fourth multifamily asset in the Des Moines, Iowa MSA.

Autumn Ridge features a diverse set of floor plans, a comprehensive amenity package, two swimming pools, and strong in-place cash flow. With many well-known and stable employers in the area including Microsoft, MercyOne, Wells Fargo, and more, BAM Capital is confident that it can deliver a targeted 15-20% IRR return on investments for its investors. 

As part of the vertically integrated The BAM Companies (BAM Capital, BAM Management, BAM Construction), BAM Capital has over 100 years of experience among Executive level staff. With over $700MM assets under management, over $152.5MM in distributions to investors, and 900+ investors across 40+ states, BAM Capital is a proven sponsor with a solid track record. 

Autumn Ridge will join Hamilton Station, The Bristol, and Autumn Ridge as part of BAM Multifamily Growth & Income Fund III. Hamilton Station and The Bristol are both also located in the Indianapolis, Indiana, metropolitan statistical area. Autumn Ridge is located in Des Moines, Iowa.

LEAVE A REPLY

Please enter your comment!
Please enter your name here