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UNI real estate alumni make deals across the United States

May 21, 2020 - 3:59pm
UNIBusiness Editor
Real Estate

UNI's real estate degree program is a small, yet mighty force in the real estate industry. Oftentimes alumni will find themselves connected long after graduation. Below are some notable alums and deals they've made recently.

Daniel Kannz (Real Estate, Marketing '05)
Valbridge Property Advisors

Two Light and Three Light Apartments

Daniel Kann of Valbridge Property Advisors in Kansas City assisted the developer of Two Light and Three Light Apartments in securing mortgage insurance through the Department of Housing and Urban Development. The scope of work included a market analysis of the Primary Market Area to show demand for additional apartment units. The analysis also included demographic data of existing households in the market area, projected housing trends based on lifestyle preferences and absorption of new units, employment analysis of major industries, basic employment, and income levels of each industry, as well as market fundamental analysis of existing projects in the submarket. The analysis concluded there was adequate market demand to support the two projects without negatively impacting the existing rental market.

Brett Caviness (Real Estate '11)
Compass Real Estate

Compass real estate before

Compass real estate after

Compass real estate before

Compass real estate after

Brett Caviness was the listing agent on the successful sale of a remodeled home in the Silicon Valley.  Brett often works with his clients as a designer/ general contractor on all aspects of transforming their dated homes into “show ready” properties, allowing for maximum sales prices.  As demonstrated by the before and after photos below Brett is certainly good at his trade…this home sold for $1,965,000!

JLL - Des Moines

The Des Moines based team of JLL had an active 4Q2019 which included the following real estate transactions (updates provided by Eric Land).

F&G (Fidelity & Guaranty Life Insurance Company) Signed Office Lease

  • Location: 801 Grand Avenue, Des Moines, Iowa • Size: 83,000 sf (4 floors)
  • Timing: Moving into new space Q4 2020
  • Signed: December 2019
  • Broker: Justin Lossner (Real Estate, Finance '03)

F&G will be moving from 601 Locust Street, Des Moines and increasing its office space at 801 Grand Avenue. This lease transaction is the largest third-party lease in 801 Grand’s history.

Deerwood Office Park Sale

  • Location: 1820-1860 NW 118th Street
  • Size: Three, two-story buildings totaling 90,000 sf and an adjacent 4 acre parcel
  • Sale Price: $10,300,000 ($114 psf)
  • Sale Date: 10/23/2019
  • Brokers: Justin Lossner (Real Estate, Finance '03) & Marcus Pitts (Finance '03)

JLL Des Moines arranged the sale to a local Des Moines buyer from a California seller

Corporate Woods Phase 2 Warehouse Lease-up and Sale

  • Location: 5910 SE Rio Circle, Ankeny, Iowa
  • Size: 200,000 sf • Sale Price: $17,400,000 ($87 psf)
  • Sale Date: 12/12/2019
  • Brokers: Marcus Pitts (Finance '03) & Austin Hedstrom (Finance '14)

JLL Des Moines represented Opus Development in this speculative distribution warehouse development. JLL Des Moines leased up the building with four different tenants and then arranged the sale of the property to Stag Industrial Holdings. This warehouse is the second phase of a three-phase development. JLL also leased up and sold phase one and phase three is currently under construction and is for lease.

Derrick Loutsch (Real Estate, Finance '05)
UMB Bank

Linwood Square

Derrick Loutsch of UMB Bank in Kansas City led the charge on orchestrating a complex financing structure for the redevelopment of Linwood Square. The project involved the renovation and lease-up of a 54,538 sf, class B/C retail strip center that is shadow-anchored (located across the street) by a recently constructed SunFresh grocery store. The redevelopment took over two years to complete the result was well worth it – providing a much-needed lift to the community and the overall East Side neighborhood of Kansas City. Well done Derrick!

Chandler Martin (Real Estate, Finance '18)
Stanbrough Realty

The Bricks Waukee East

Chandler Martin of Stanbrough Realty represented in the off-market acquisition of The Bricks Waukee East in Waukee, IA. The transaction closed on 12/5/19 and the asset sale included 216 apartment homes, a clubhouse, gym, and pool. The buyer, a Denver, CO-based investment firm, purchased the property for $25,000,000. Chandler sources the business through cold-calling efforts and pitched close the 10 investment opportunities before successfully landing Bricks Waukee East. 

Andrew Zellmer (Real Estate, Finance '12)
Peoples Company

Iowa Natural Heritage Foundation

Andrew Zellmer of Peoples Company was the lead force on two deals along with fellow UNI alums Steve Bruere (Marketing '03) and John Reburn (Real Estate '17). 

  • Centerville, South Dakota – 5,302 acres. Peoples Company secured 100 registered bidders for the auction and sold the land via the Multi-Par Auction Method.  The auction took 9 hours to execute and exceeded the seller’s expectations. It sold for $23,048,000 to 9 bidders. 
  • Former Clover Woods 4-H Camp – 1,011 acres. The 4-H Foundation used Peoples company to market the land, which was sold via a sealed bid process. The Iowa Natural Heritage Foundation purchased the land with the plan to preserve the camp, which has a beautiful location along the Des Moines River. The property sold for $3,400,000

CBRE Hubbell – Des Moines

UNI Panthers at CBRE Hubbel had an active 4Q2019 which included the following real estate transactions (updates provided by Katy Essing)

14Forty Apartment Building

  • 1440 Locust Street, Des Moines
  • Total Building SF = 63,300
  • Sold for $6,380,000 on 1/31/2020
  • Brokers: Tyler Dingel (Real Estate, Finance '05) (lead), Todd Millang (Real Estate '97), Riley Hogan, Ajdin Nadarevic

Principal Financial Group Lease

  • 6701 Westown Parkway
  • Total Leased SF = 35,372
  • Lease begins 8/1/2020
  • Brokers: Todd Millang (Real Estate '97) (lead), Tyler Dingel (Real Estate, Finance '05), Riley Hogan, Ajdin Nadarevic

Jordan West – Sparetime Entertainment

  • Jordan West Development, EP True Parkway and Jordan Creek Parkway, West Des Moines
  • Total Land Acres = 6.40
  • Sold for $2,500,000 on 11/27/2019
  • Brokers: Tyler Dingel (Real Estate, Finance '05) (lead), Riley Hogan, Ajdin Nadarevic, Todd Millang (Real Estate '97), Craig Byers (buyer side)

Kum & Go #302 Sale-Leaseback

  • 2905 4th Avenue S, Clear Lake, IA
  • Building SF = 4,604
  • Sold for $4,400,000 on 3/13/2020
  • Brokers: Tyler Dingel (Real Estate, Finance '05) (lead), Todd Millang (Real Estate '97), Riley Hogan, Ajdin Nadarevic

ARTISAN Capital Group

UNI alums Ryan Cahalan (Finance '99), Sean Fogarty and Marcus Kjeldsen of ARTISAN Capital Group had a busy January 2020, closing on three Des Moines area apartment communities totaling more than 500 apartment homes. ARTISAN purchased multi-family assets in West Des Moines, Urbandale and Ankeny – totaling more than $30M in acquisitions.

Westwood Apartments

Jordan Creek Apartments

The purchased included two well-located West Des Moines apartment communities, Westwood Apartments and Jordan Creek Apartments (to be renamed Eastwood on Grand).

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UNI Business

UNIBusiness Editor

UNIBusiness uses a team of writers to conceptualize, develop and share stories and updates with the public. If you have a story idea, an update on an alum or just want to say 'Hi', please email unibusiness.editor@uni.edu.