1031 Meadow Chase Apartments LLC has agreed to purchase Aspen Square Management’s multi-unit housing property in West Des Moines for $5.35 million. CB Richard Ellis/Hubbell Commercial’s Private Client Group advised Aspen Square on the sale.

The 87-unit property, called Meadow Chase Apartments and Townhomes, has 50 apartment units and 37 townhomes; it was constructed in 1990. The 80,400-square-foot property at 5234 Boulder Drive is 99 percent occupied.

Both the selling and buying companies are from out of state. 1031 Meadow Chase Apartments will retain the same management services as the previous company.