Press Release

ARTISAN Capital Group ("ACG") proudly announces its strategic acquisition of The Foundry, a boutique student housing asset adjacent to the Iowa State University campus. In collaboration with its investment partners, ACG is solidifying its position in Ames, Iowa. This acquisition expands ACG's Ames portfolio to approximately 900 beds, unlocking economies of scale and further enhancing the overall student living experience.

The Foundry, comprising 53 units and 144 beds, offers students a unique living experience with top-of-the-line amenities typically found in larger properties. Situated at the entrance to Campustown, right next to the Iowa State University campus, The Foundry provides a sought-after residence for students seeking both convenience and a vibrant campus atmosphere.

Residents at The Foundry will benefit from a 24-hour fitness center, a coffee bar with a Starbucks coffee machine, a resident lounge, study rooms, and a game room. The inclusion of an underground parking garage, dedicated bike storage, and a nearby Cy-Ride bus stop ensures seamless connectivity and accessibility for residents.

Additionally, the property includes three commercial spaces currently occupied with a Starbucks, Potbelly Sandwich Shop, and a campus apparel store.

Ryan Cahalan Partner at ARTISAN, expressed excitement about the acquisition, stating, "The Foundry represents a unique and valuable addition to our portfolio. The combination of its prime location, exceptional amenities, and ACG's strategic approach positions this investment for success."

The operational plan for The Foundry includes entrusting management to Haverkamp Properties, a close partner of ACG. Leveraging this collaboration, ACG aims to implement a hands-on approach to managing The Foundry, ensuring an unparalleled living experience for students in Ames.

The acquisition involves assuming existing Freddie Mac debt at an attractive rate.