Dakota REIT announces the acquisition of Nexus atGray’s Landing, a 142 - unit multifamily property located in a growing pocket neardowntown Des Moines, IA. This luxury property was built in 2018 and featuresmodern finishes with resort-style amenities. The property offers convenient access toshopping and dining in downtown with easy access to outdoor attractions andmajor highways.
“I am excited to continue our growth in the DesMoines market with the acquisition of a Class A multifamily community in adesirable location near downtown Des Moines.” Matt Pedersen, Dakota REITPresident. “The economics of this acquisition are highly accretive toDakota REIT’s portfolio and challenging to duplicate with current constructioncosts.
Dakota REIT’s investment objective is to generateattractive current income and equity growth by investing in diversified realestate assets in the Midwest. Des Moines, IA is a relatively new market forDakota REIT and fits Dakota REIT’s assessment of a growth market due to itsabove average population and job growth, as well as low unemployment enjoyed bythe upper Midwest.
About Dakota REIT
Dakota REIT has continued a 26-year track recordof consistent distribution yields and share value appreciation. Dakota REIToffers a diverse portfolio of properties consisting of multifamily andcommercial property, across the Midwest. Dakota REIT’s press release andadditional information are available on its website at www.dakotareit.com or by calling Investor Relations at 701-239-6879.
Contact Information
Peter J.Tanis, CCIM
ChiefInvestment Officer
DakotaREIT
c.952.210.3792
