Arsenal Capital LLC (Arsenal) is excited to announce the acquisition of a 32-unit apartment building located in downtown Davenport, Iowa. Arsenal purchased the building from Salvation Army and plans to invest in capital improvements, repositioning the asset to meet demand for market-rate apartments.
Located at 307 W. 6th Street, the building is positioned half a mile south of the Palmer Chiropractic campus. Downtown shopping, restaurants, and public transportation are blocks away. The asset will be tailored toward the millennial crowd and will be named The Foundry.
The Foundry will feature more affordable luxury living compared to the loft apartments offered in the downtown area. The complex will feature condo-style finishes throughout the units and offer a luxury feel at an affordable price point.