The Foundry, a boutique student housing development next to Iowa State University in Ames, has been acquired by Artisan Capital Group, the Chicago-based group announced.

The $15.1 million acquisition expands Artisan Capital Group’s portfolio in Ames. The Foundry, built about eight years ago and located at 2300 Lincoln Way, includes 53 units, a 24-hour fitness center, coffee bar, resident lounge and study and game rooms.

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

“The Foundry represents a unique and valuable addition to our portfolio,” Ryan Cahalan, a partner in Artisan, said in a prepared statement. “The combination of its prime location, exceptional amenities and [Artisan’s] strategic approach positions this investment for success.”

Haverkamp Propertiess, located in Ames and a partner of Artisan Capital Group, will manage the property.

The acquisition involves assuming existing Freddie Mac debt at an attractive rate, according to a news release.

Artisan Capital Group has a regional office in Des Moines. The group, with Eastham Capital, also recently acquired Wakonda Village, a multifamily complex at 1800 and 1810 Watrous Ave. in Des Moines.