Cadence Apartments is a 195-unit, Class A multi-family project located in the booming Des Moines submarket of Johnston. Constructed in 2016 and 2017, the property offers a top-tier amenity base, best-in-class finishes in select units and is within walking distance to Johnston Middle School and the under construction $100MM Johnston Town Center. The property was acquired in March 2021 with a plan to improve overall day-to-day management, eliminate lease expiration irregularities and upgrade select unit finishes over time. The property offered stabilized, in-place cash flows at time of acquisition and also included the assumption of an 15-year existing life insurance company loan and four years remaining of a TIF economic incentive totaling over $900,000.
Ryan Tobias, Partner
Ryan is a Partner and Co-Founder of Jackson Dearborn Partners. He oversees all elements of the JDP business including acquisitions, site selection, fundraising, and investor relations. With 14 years experience, Ryan has worked on over $1 billion in transactional real estate and has developed or acquired over $200 million in student housing and multi-family real estate. Read more
Prior to founding Jackson Dearborn Partners, Ryan worked at brokerage firms Marcus and Millichap and Newmark Knight Frank before starting Triad Real Estate Partners in 2010. Triad is a leading broker of student housing and multi-family in the Midwest completing nearly $1.6 billion in sales since inception. Following the success of Triad, he launched JDP with Shaun Buss and Sean Lyons in 2014 with the goal of building out a vertically integrated real estate investment portfolio.
Ryan is a graduate of the University of Michigan and after a decade in Chicago, moved back to Ann Arbor where he now resides with his wife Brittany and their two children.