The Asset
Location: Des Moines, IA
Unit Count: 350+
Built: 1970’s
A 350+ unit multifamily community in Des Moines, Iowa, originally constructed in the 1970s. The property had been acquired approximately 18 months before the owner engaged MMG and presented an opportunity to unlock additional value through improved operations and strategic positioning.
The Challenge
The owner needed to stabilize the property’s operations and achieve a favorable sale price while facing mounting pressure from called debt.
With occupancy below its potential and financing constraints complicating the timeline, an immediate sale risked leaving significant value on the table. The challenge was to improve the property’s performance, manage near-term financing needs, and create the conditions for a more competitive transaction.
Success required more than finding a buyer. It required a coordinated strategy that addressed both the property’s operational performance and the financial realities facing prospective purchasers.
The MMG Appproach
MMG developed a dual-track strategy designed to preserve flexibility while positioning the asset for maximum value.
Stabilize the asset. Over a 12-month engagement, MMG worked closely with ownership and on-site management, including meetings every three weeks for more than six months, to improve operations and strengthen the property’s market position.
Manage financing pressure. While preparing the asset for sale, MMG simultaneously pursued bridge debt extensions, providing additional flexibility as the property moved toward stabilization.
Expand the buyer pool. As occupancy reached 90%, MMG’s Cross Market Capital Team leveraged its national network and real-time market intelligence to identify qualified buyers beyond traditional geographic boundaries.
Structure the transaction. With two leading buyers identified, MMG’s Structured Finance Team coordinated with Capital One’s Freddie Mac and Fannie Mae lending desk to vet financing options and secure approvals. The team ultimately arranged both debt and preferred equity for the buyer, supporting the capital structure needed to execute a value-add business plan.
By integrating operational guidance, national buyer access, and structured financing expertise, MMG helped overcome obstacles that could have limited the property’s sale potential.
The Result
MMG’s coordinated approach delivered more than $4 million in additional proceeds for the seller, representing a gain of over 10%.
- $4M+ in additional seller proceeds
- 10%+ increase in proceeds
- 90% occupancy achieved
Rather than accepting the constraints of the initial situation, MMG helped ownership strengthen the asset, navigate debt challenges, and attract buyers with the financing needed to complete the transaction.
The result demonstrates the power of MMG’s integrated platform: combining market intelligence, cross-market buyer relationships, and structured finance capabilities to create measurable value for multifamily property owners.
