Tricap Residential Group, a multi-pronged residential real estate firm based in Ann Arbor, Mich., has acquired 34 residential rental properties in northeast Ankeny, Polk County real estate records show.

Tricap Residential, doing business as Tricap Kimberley Crossings TIC LLC, Zeal Kimberley Crossings TIC I LLC and Zeal Kimberley Crossings TIC II LLC, paid DHIR Iowa I LLC just over $8 million for the properties, which all include recently constructed two-story townhomes with tuck-under garages.

The properties are in Kimberley Villas Plat 1, between Northeast Sienna Drive and Interstate Highway 35.

Tricap Residential Group, founded in 2007 by Bryan Pritchard, has a residential portfolio valued at over $730 million, according to its website. The group owns residential properties, which includes apartments, townhomes and houses, in Michigan, Indiana, Wisconsin, Missouri, Tennessee and Iowa.

In addition to the Ankeny properties, Tricap Residential’s Iowa investments include Picket Fence Communities, under construction in West Des Moines; Element Urbandale at 3650 Patricia Drive in Urbandale; and Element at Valley West at 4101 Woodland Plaza in West Des Moines.

Jerry Slusky, principal of SG Communities, said the Papillion, Neb.-company partnered with Tricap Residential on the acquisition of the Ankeny rental properties. He said SG Communities and Tricap Residential plan on acquiring more townhomes as DHIR Iowa I LLC completes their construction. The limited liability company is managed by DR Horton-Iowa.

Tricap Residential is also investing in the Picket Fence Community at South 88th Street between Coachlight Drive and Mills Civic Parkway, Slusky said. Originally the development was going to include single-family rental homes. The project has evolved to include luxury townhome rentals, Slusky said.

A steadily growing number of people are unable to buy homes because of high construction costs and interest rates, Slusky said. “These are good products for the times.”

The transaction with DHIR Iowa I LLC was recorded June 30.

In other transactions:

Hgig Lyg Holdings LLC, located in Lakewood, Colo., paid DSMIA LLLP $2.4 million for property at 2000 Meadow Chase Lane in Des Moines, records show. The 5.6-acre parcel includes a 50-unit residential rental complex developed in 2002. The property is valued at just over $1 million. The transaction was recorded June 30.

Minndak LLC, located in Polk City, paid the Kyle Hout Living Trust and the Linsey Hout Living Trust $1.3 million for property at 12876 N.W. Sheldahl Drive in Polk City, records show. The 2-acre parcel includes a 2,725-square-foot, single-story house built in 2022. The transaction was recorded June 30.

MidAmerican Energy Co. paid Hope K Farms LLC $1.1 million for 4.3 acres of agricultural land east of Northeast Sixth Street and about one-half mile south of Northwest 118th Avenue in Ankeny, records show. The land is adjacent to another parcel MidAmerican Energy owns. The transaction was recorded July 1.

Alexander and Gracie Krist paid the Alexa Slavin Revocable Trust $1.3 million for property at 1858 Glen Oaks Drive in West Des Moines, records show. The property includes a two-story, 3,860-square-foot house built in 2003. The transaction was recorded July 1.

Prairie Pointe LC, located in Ames, paid Campus View Student Housing LLC $7.1 million for property at 2030 S. Ankeny Blvd. in Ankeny, records show. The 3.3-acre parcel includes the 72-unit Campus View Apartment complex built in 1998. The property is valued at $8.8 million. The transaction was recorded July 1.

Kidwell Family II LLC, located in Lincoln, Neb., paid 3000 Westown Partners LP $1.1 million for property at 3000 Westown Parkway in West Des Moines, records show. The nearly 2-acre parcel includes a 15,640-square-foot office building constructed in 1978. The property is valued at $1.8 million. The transaction was recorded July 2.

Dallas County

Sharon Maas paid KRM Development $1.34 million for property at 17872 Creekside Drive in Clive, Dallas County real estate records show. The property includes a 2,396-square-foot house whose construction was recently completed. The transaction was recorded June 30.

James and Caroline Larsen paid KRM Development LLC $1.35 million for property at 4620 178th St. in Urbandale, records show. The property includes a 2,528-square-foot house with construction that was recently completed. The transaction was recorded July 1.

David and Anne Johnson paid Michael Schmidt $1.25 million for property at 15905 Douglas Parkway in Waukee, records show. The property includes a 2,052-square-foot house built in 2021. The transaction was recorded July 1.

Sarah and Thomas Brown paid Gregg and Jamie Coakley $1.37 million for property at 360 Painted Woods Drive in Waukee, records show. The property includes a two-story, 3,606-square-foot house built in 2008. The transaction was recorded July 2.