DES MOINES, IA – NAS Investment Solutions (NASIS), a national sponsor known for high quality passive real estate investments with reliable yield performance, has bought Broadway Apartments, a three tale, 120-unit multifamily property complex in Des Moines, Iowa.
The acquisition of Broadway Apartments makes an investment opportunity for all real estate investors especially for those 1031 Exchange investors who are in immediate need of a quality replacement property. It is also suitable for self-directed IRAs and represents a narrow window of opportunity for accredited investors to participate.
National Asset Services (NAS), one of the Country’s leading commercial real estate companies, known for maximizing property value in all economic situations while enhancing residents’ living experience, will be responsible for overseeing property management as well as asset managing the multifamily complex for the property’s investment clients.
Built in 2015, the Broadway Apartments property features an average home size of 875 square-feet and is located approximately nine miles northeast from the heart of downtown Des Moines on a 7.83-acre site. Community amenities include an updated clubhouse, fitness center, playground, dog park, theater room and on-site management. There are additional garage spaces available for rent.
“We are excited to offer our clients the opportunity to invest in a property located in one of the strongest growth markets in the Midwest,” commented Karen E. Kennedy, President and Founder of NAS Investment Solutions and National Asset Services. “With significant investments from major tech industry companies, economic diversification and a lower cost of living, Des Moines is on a solid path to more growth and development.”
Located near restaurant and shopping venues, Broadway Apartments offers residents a variety of entertainment options right outside their doorstep. Adventureland Amusement Park, Prairie Meadows Racetrack & Casino, and Outlets of Des Moines are within two miles of the property. With proximity to I-80 and Hwy 6, there is simple access to major employers and downtown Des Moines.

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RENO, NV – San Diego-based Tower 16 Capital Partners has successfully bought The Deco at Victorian Square, a 209-unit multifamily property located in the Reno, Nevada market. The project was built in 2021 and bought for $43 million, well below today s replacement cost.
This marks our first acquisition in the Reno market and brings us back into Nevada where we previously owned a portfolio of 2,000 units, said Tower 16 Co-Founder Tyler Pruett. We re pursuing opportunities in Western growth markets to buy high-quality real estate at a steep discount to replacement cost and prior-peak pricing. We have been trying to enter the Reno market for years and remain firm in our conviction that in-migration from more expensive markets will continue, driven by increasing job opportunities, low cost of living and attractive lifestyle amenities.
Tower 16 has made similar moves in markets throughout the West, acquiring nearly 7,000 units representing assets of over $1 billion in Southern California, Las Vegas, Phoenix, Tucson, Albuquerque and Denver. The company seeks markets with strong rental housing fundamentals including employment growth, in-migration and a limited new supply of housing. Tower 16 is aggressively targeting new construction assets in varying stages of completion/lease-up as well as value-add opportunities in the Southwest.
The Deco is located at 955 Avenue of the Oaks in the desirable Victorian Square neighborhood of Sparks, a city just east of Reno. The property is a newly built, 10-tale, podium-style multifamily community with a mix of studio, 1- and 2-bedroom apartments averaging 731 square feet. The downtown property is adjacent to the I-80 freeway close to the Tahoe Reno Industrial Center, Downtown Reno, several large hospital systems, as well as outdoor lifestyle amenities.
The Deco has performed very well and FPI Management has done a phenomenal job managing the final stages of lease-up, getting the property to 97% occupancy during escrow, said Tower 16 Co-Founder Mike Farley. The property is extremely well-built, and we plot to take it to the next level by enhancing the overall tenant experience.
Tower 16 will complete nearly $1 million in upgrades including common areas and fitness center upgrades and landscaping enhancements. The company will also add outdoor amenities including barbeques, seating and gathering areas.
We have been waiting for the right re-entry point in the Reno market and are grateful to Eastdil for the acquisition opportunity and their help securing debt financing in a turbulent capital-raising environment, said Tower 16 Director of Acquisitions Dave McClain. The Tower 16 team is keen to do the business plot with our brilliant investment partner and lender.
Jonathan Merhaut of Eastdil Secured represented the seller in this transaction. Eastdil Secured helped secure debt financing for the buyer, led by Lee Redmond and Greg Stampley.

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GARLAND, TX – Wood Partners, a leading national multifamily real estate developer, announced the official grand opening of its newest luxury residential community, Alta Firewheel, situated in Garland, Texas. Alta Firewheel is Wood Partners’ second project in the Garland submarket, following the successful opening and sale of Alta Spring Creek in 2021.
Nestled near the President George Bush Tollway, Alta Firewheel offers residents a seamless commute to major employment centers and vibrant retail districts. The community provides direct access to an abundance of dining, shopping, and entertainment options at Firewheel Town Center, an expansive retail space exceeding one million square feet—all within walking distance of the community. Set amid attractions such as Lake Ray Hubbard, Firewheel Golf Park, Breckinridge Park, and One Eleven Ranch Park, Alta Firewheel offers a lifestyle of convenience and leisure. Additionally, we’re conveniently positioned close to several of Garland’s hike and bike trails, including the Rowlett Creek Preserve Trail.
Aside from the outstanding retail and dining choices just minutes away, Alta Firewheel’s prime location positions residents near the city’s top employment centers—City Line and the Telecom Corridor. Major employers in the vicinity include State Farm Insurance, Blue Cross & Blue Shield of Texas, Genpact, GEICO, and Cisco Systems.
“We are thrilled to mark a significant milestone in our commitment to the North Texas community with the grand opening of Alta Firewheel,” said Ryan Miller, Managing Director for Wood Partners. “Alta Firewheel is not just a residential community; it’s a dynamic space tailored for young professionals keen to establish roots and learn the richness of Garland, and we are very excited to continue playing a part in what makes the city of Garland so fantastic.”
Alta Firewheel offers 250 luxury apartment homes featuring a mix of studios, one-, two-, and three-bedroom floor plans, with a focus on sophisticated living. Each home is meticulously designed with premium interior finishes and luxury touches, such as granite countertops, stainless steel appliances, wood-style flooring, upgraded fixtures and pendant lighting, as well as 42-inch, soft-close cabinets. Additional features sure to wow residents include programmable thermostats, private yards, and the convenience of in-unit washer and dryers.
Alta Firewheel provides a wealth of best-in-class community amenities to its residents, making an unparalleled living experience. Dive into luxury at our resort-style pool, complete with tanning ledges, outdoor firepits, grilling areas, and an on-site dog park featuring a convenient pet wash station—all overlooked by an elevated clubhouse patio. Inside the clubhouse, learn a state-of-the-art fitness facility and inviting lounge spaces for socializing and coworking. Every detail at Alta Firewheel is designed to elevate your lifestyle. Welcome to luxury living with unmatched convenience.

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