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ORANGE COUNTY, CA-Steadfast Income REIT, an Orange County-based realty investment firm, has purchased 147 units in Park Place Apartments, a multifamily community located in Des Moines, Iowa.

The 16-floor Park Place Apartments tower has 158 units, of which 11 are owned by private parties. The firm funded the property purchase with a portion of its public offering proceeds of $1.65 billion raised for this purpose in July 2010. The firm’s affiliate company Steadfast Management Co. will manage the property. For the full story, go to Housingwire.com.

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