Besyata Investment Group and The Scharf Group Acquire Autumn Ridge Apartments in Waukee, IA for a Purchase Price of $58 Million

Besyata Investment Group and The Scharf Group, NY-based single family
offices, have acquired Autumn Ridge Apartments in Waukee, IA for $58M.
The purchase will be completed in two Phases for a total of 434 Units.

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BH Management, Besyata’s long-standing partner and leading property
manager of 70,000+ apartments across 23 states, will handle the
day-to-day property management and leasing.

The Property

Autumn Ridge, a 434 class “A”, new construction luxury apartment
community located in vibrant Waukee (suburban Des Moines), Iowa. The
community is located within Dallas County, the 5th fastest
growing county in the US. The community offers quick access to the top
employers of Des Moines/West Des Moines including Wells Fargo, Mercy
Medical Center, Principal Financial Group and Athene USA Corporation, as
well as limitless shopping, dining and entertainment destinations, most
notably, it is within ten minutes of the Jordan Creek Town Center, the 4th
largest shopping complex in the Midwest.

The immediate area near the property has one of the strongest
demographic profiles within the Des Moines MSA. Waukee has experienced
exponential growth over the last two decades, it was named the fastest
growing city in Iowa. The job market is booming and has created a strong
draw for young educated professionals. The property is in the Waukee
Community School District, one of the best and fastest growing school
districts in the state. Waukee is known as an active, family-friendly
city with plenty of outdoor leisure opportunities. Autumn Ridge has
convenient access to all the finest recreational activities in the West
Des Moines areas.

The Des Moines market is experiencing strong fundamentals through job
and population growth driven by a robust economy and a business-friendly
investment environment, asking rents in the submarket have risen
considerably in the past few years. Occupancy rates have continued to
remain strong and the pace of demand in the next 4-5 years is expected
to outpace that of new supply.

Besyata Investment Group

A NY-based family office focused on the acquisition and development of
multifamily and commercial properties nationwide while pursuing a
value-add strategy. Besyata currently owns and operates a multifamily
portfolio spanning nine states, consisting of 5,000+ units.

The Scharf Group

A NY-based fourth generation family office; owner, developer, and
operator of a large portfolio of commercial, multifamily, healthcare &
senior housing properties nationwide.

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