Seniors Housing L Iowa

Sperry Van Ness closes sale of seniors housing portfolio in Iowa

Cummins-Southridge-Aerial-Cropped1

Chicago's Sperry Van Ness recently brokered the sale of a 197-unit seniors housing portfolio in Des Moines, Iowa.

Chicago's Sperry Van Ness recently brokered the sale of a 197-unit seniors housing portfolio in Des Moines, Iowa.

The portfolio featured two 100 percent project-based section 8 properties, Southridge Village I & II, and one LIHTC property known as Cummins Village.

Chicago Sperry Van Ness advisors Cody Doran, Reid Bennett and Jim Sears held the exclusive listing to market the property for the original developer, arranging the sale to a profit-motivated LLC based in Chicago. Multiple offers from different geographic locations across the nation were submitted during the bidding process.