Hodges Ward Elliott is pleased to present the opportunity to acquire the TownePlace Suites Des Moines West/Jordan Creek (“Hotel” or “Property”) – an institutionally built, 99-room extended-stay hotel that is exceptionally well-located within Iowa’s largest lifestyle mixed-use center. Jordan Creek Town Center, as not only the state’s largest shopping complex but also the 24th largest in the U.S. (1,340,000 SF), offers guests of the Hotel over 150 shops and restaurants within walking distance. Opened in 2015, the Property will provide the next owner a newer-vintage asset with renovation and operational upside, coupled with one of the most desired extended-stay brands within Marriott’s top distribution system.

EXCEPTIONAL LOCATION

JORDAN CREEK TOWN CENTER
The Property is the closest hotel to the 1.34 million-square-foot Jordan Creek Town Center super-regional lifestyle center – the largest of its kind in the state.

BLUE-CHIP CORPORATIONS
West Des Moines is the metro area’s premier office submarket, and the TownePlace Suites is less than a five-minute drive from Wells Fargo’s 1.1 million-square-foot Jordan Creek campus, as well as numerous other high-powered office users such as Hy-Vee, Athene, Sammons Financial, Farm Bureau Financial Services, Stifel, etc. Additionally, tech giant Microsoft has invested more than $6 billion in West Des Moines to build seven data centers, with the five currently in operation creating 400 permanent jobs in the city.

MULTIPLE HEALTHCARE FACILITES
There are also three major healthcare facilities located less than a 10-minute drive from the Hotel – MercyOne, The Iowa Clinic and UnityPoint Health.

FASTEST-GROWING LARGE METRO AREA IN THE MIDWEST

Des Moines’ population grew 6.3% from 2020-2024, making it the fastest-growing large metro in the entire Midwest by a significant margin. This post-COVID explosion comes off the heels of Des Moines’ 18.6% population growth from 2010-2021, which was also the fastest of any Midwest metro during that time.

West Des Moines itself is a highly affluent and true live-work-play neighborhood with significant new development across all asset classes including office, residential and retail.

Highly Desirable Extended-Stay Brand Industry-Leading Marriott Affiliation

Operating under the rapidly growing TownePlace Suites flag (>500 hotels globally), the Hotel is backed by Marriott International – the strongest brand family in the lodging industry – providing a highly-rated reservation system and access to over 237 million tremendously loyal Marriott Bonvoy members.

Austin Brooks
Executive Managing Director
abrooks@hodgeswardelliott.com

Michael Tormey
Senior Director
mtormey@hodgeswardelliott.com

Caiden Trivedi
Analyst
ctrivedi@hodgeswardelliott.com

Dawson Ovard
Analyst
dovard@hodgeswardelliott.com

Michael Britvan

Executive Managing Director

mbritvan@hodgeswardelliott.com