Press Release

ARTISAN Capital Group ("ACG"), partnered with Schwartz Capital Group, is excited to announce the acquisition of The Franklin Apartments (formerly Campus Town Apartments), a 97-unit community located in Ankeny, Iowa. The acquisition represents ACG’s continued expansion in Central Iowa, where the firm owns and operates over 3,000 units.

Built in 2013, The Franklin was originally developed as student housing serving Des Moines Area Community College (DMACC), located directly across the street. The property offers a mix of 11 one-bedroom, 78 two-bedroom, and 8 three-bedroom units. Community amenities include a fitness center, game room, rooftop lounge, and parking, with additional potential to repurpose approximately 3,960 square feet of vacant ground-floor commercial space as well as other areas within the community.

While the property has historically operated as student housing, ACG will rebrand the property as The Franklin and reposition it as a conventional, market-rate apartment community. The transition will simplify operations and expand the renter pool, while still benefiting from significant student demand given the proximity to DMACC, one of Iowa’s largest two-year institutions with more than 24,000 enrolled students.

In conjunction with operational and branding improvements, ACG has budgeted significant capital investments to further enhance the property. Planned upgrades include unit interior renovations, amenity updates, HVAC and plumbing improvements, landscaping and parking lot improvements, and new signage.

“We are excited to add to our growing Des Moines metro portfolio and to work with First National Bank on the financing of The Franklin”, stated Ryan Cahalan, Partner at ARTISAN Capital Group.

“Ankeny is now the largest suburb of Des Moines and one of the fastest-growing communities in the Midwest and country. This acquisition aligns perfectly with our strategy of targeting high-quality assets in dynamic markets,” said Sean Fogarty, Partner at ARTISAN Capital Group.

ARTISAN Management Group ("AMG"), ACG’s management vertical, will oversee operations at The Franklin, ensuring a seamless transition and successful execution of the repositioning strategy.