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Tax credit firm backs Des Moines office tower's shift to apartments

San Francisco-based Lawmark Capital taps historic preservation incentives to reposition iconic 25-story Iowa high-rise for residential use
Designed in the International Style, the Financial Center in Des Moines, Iowa, is currently the fourth tallest in the city and earned a place on the National Register of Historic Places in 2025. (CoStar)
Designed in the International Style, the Financial Center in Des Moines, Iowa, is currently the fourth tallest in the city and earned a place on the National Register of Historic Places in 2025. (CoStar)
By Tanner Duncan
CoStar Research
July 31, 2026 | 8:35 P.M.

Lawmark Capital, a commercial real estate firm headquartered in Des Moines with a portfolio spanning office, retail and parking assets across the Midwest, locked in tax credit equity to fund the repositioning of the Financial Center, a 25-story downtown office tower, into 209 market-rate apartments and approximately 152,000 square feet of retained commercial space.

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