Whitestone Companies acquires Iowa TownePlace Suites

Whitestone Companies acquires Iowa TownePlace Suites

Whitestone Companies, a real estate development firm based in Columbus, OH, has acquired the TownePlace Suites Des Moines Urbandale in Des Moines, IA. This property is the company’s sixth hotel purchase in 2023 and expands Whitestone’s presence in the midtier extended-stay market.

“Urbandale is a community positioned to see accelerated growth over the next few years,” said Jay Batra, CEO, Whitestone Companies. ”We are excited to team up with Marriott and be part of it.”

The property features 116 apartment-style rooms, a pool and complimentary breakfast.

“The TownePlace Suites by Marriott is a wonderful addition to our growing extended-stay portfolio,” said Chuck Groger, chief revenue officer, Whitestone Companies. “The on-site team has done an incredible job of building relations in the community. Our plan is to expand on that as we position the TownePlace Suites to be a leader in the marketplace.”

With this addition, Whitestone Companies now has a portfolio of 17 hospitality assets across 10 states with several more in development.