THURSDAY, NOVEMBER 20, 2008

Holliday Fenoglio Fowler markets Iowa multi-family for $18.95M

by Drew Smith
Des Moines

The Indianapolis, Ind., office of Holliday Fenoglio Fowler is marketing for sale the Hillcrest Park Apartments in Cedar Falls, Ia. with an asking price of $18.95 million.

Brian Kelly is representing the seller in the offering.

The multi-family property is located at 9614 University Ave. and contains 132 units. Built in 2002, the property is 100 percent leased and sits within walking distance of the University of Northern Iowa.

"Hillcrest Park Apartments was the first property over 50 units to reach 100 percent occupancy for the Fall 2008 lease-up and has reached full occupancy for each of the last five leasing seasons," Kelly said.

Address: 9614 University Ave., Cedar Falls, Iowa

Size: 132 units

Built: 2002

Suburban Cincinnati apartments bring $6.25M Knute Nelson development given financing Pedcor sells suburban Indianapolis apartments EnV continues apartment streak on Kinzie Street Marcus & Millichap brokers sale M&R Development breaks ground on Parc Huron CAG Development approved for new Minneapolis housing project Gross & Cohen complete $13 million student housing deal Suburban Cleveland apartments offered for $12.58M Leaders Bank arranges $5.25M financing for Wicker Park multi-family