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October 19, 2021

Amazon backs $21M affordable housing deal in Des Moines

Real Estate Editor

The Marina Club Apartments, at 2445 S. 222nd St. in Des Moines, have sold for just under $21 million, according to King County records. The buyer of the 77-unit garden apartment complex, via an LLC, was Bellwether Housing. Public records indicate an over $12 million loan from Citibank, plus a $9.2 million loan from Amazon.

The deal represents Bellwether's second apartment buy in as many months to be supported by Amazon's Housing Equity Fund, which is worth about $2 billion nationally.

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