Persimmon Capital partnered with Hubbell Realty Company to develop the Winhall, a 206-unit, eight building luxury apartment complex located in Des Moines, Iowa along University Avenue at the entrance to the City of Waukee, the fastest growing city in the state. The property is positioned to take advantage of the city’s explosive growth, the absence of quality Class A apartment complexes in the city, as well as the Grand Prairie Parkway exit/interchange project that connects University Avenue with Interstate 80. This infrastructure project provides residents of Waukee easier access to the greater Des Moines Metro area and has the potential to further accelerate the cities growth over the next ten years.
Construction on the project started in May 2011 with the first building delivering in December 2011. The project averaged over 20 leases a month and completed and was fully leased by the end of 2013.
Investment Type: Development
Investment Date: May 2012