Apartments, townhomes, & all things rental in this week's deep dive into the world of multifamily market in Iowa and the Midwest. Sit down with Cy Fox, with CBRE who has closed over 10,000 apartment units and Derek Haugen, who manages over 10,000 apartments throughout the state as they dive into where the multifamily market has been, where it's headed and why Iowa is still the place to invest and reside.
00:00:03 - Introduction to the podcast "Dig It" by Hubbell Realty Company.
00:00:21 - Guest introduction: Cy Fox, EVP at CBRE, joins Derek Haugen, VP at Indigo Living.
00:00:55 - Discussion on the significance of 10,000 multifamily units for both Cy and Derek.
00:01:39 - Cy Fox shares his career journey from leasing agent at Hubbell to EVP at CBRE.
00:03:07 - The evolution of the Des Moines multifamily market since 2016.
00:05:03 - The growth of Des Moines’ housing options and submarkets.
00:09:55 - Comparison of national and Des Moines rent growth trends since 2020.
00:14:00 - Analysis of Des Moines' "bubble" effect in real estate stability.
00:15:08 - Submarket highlights: Waukee and Ankeny’s impressive occupancy rates.
00:17:10 - Future pipeline: Over 4,100 units planned for 2025-2026.
00:20:00 - Increased interest from national investors in the Des Moines market.
00:27:11 - Trends in amenities: Fitness centers, pools, and pet-friendly facilities.
00:28:00 - Emerging municipal attractions like the soccer stadium and bike trails.
00:31:00 - Fun off-the-rails question: Best birthday memories.