NOTABLE TRANSACTIONS: Apartment complex in Des Moines sold for $7.3 million
BPC Staff Jun 15, 2021 | 4:45 pm
3 min read time
611 wordsAll Latest News, Real Estate and DevelopmentHickman Partners LLC, an Omaha-based group, paid Royal Oaks DSM LLC $8.7 million for property at 2400 Hickman Road in Des Moines, Polk County real estate records show. The 11-acre parcel includes the Royal Oaks apartment complex (pictured) constructed in 1973. The complex, with 203 units, includes eight three-story apartment buildings and a clubhouse/rental office building. The property is valued at $7.3 million. The transaction was recorded June 7.
Scott Mikkelsen, Amber Mikkelsen, Eric Johansen and Ryan Barton paid Five Star Development No. IV LLC $2 million for undeveloped property on the southeast corner of Northwest 36th Street and Northwest Irvinedale Drive in Ankeny, records show. The transaction was recorded June 7.
A Fargo, N.D., investment group paid Archangel Development LLC $11.9 million for property at 9577 White Oak Lane in Johnston, real estate records show. The property includes four three-story apartment buildings, each with 24 units. In addition, there are three buildings with condominiums, each with 17 units. The North Dakota investment group includes Dakota UPREIT Limited Partnership. The transaction was recorded June 7.
Cedar Rapids-based MD4 Clive LLC paid UCI Holdings LLC $8.8 million for property at 12129 University Ave. in Clive, records show. The property includes a two-story, 22,305-square-foot medical office building constructed in 2006. The property is valued at $3.6 million. The transaction was recorded June 7.
Ankeny 8 LLC, managed by Sioux Falls, S.D.-based Lloyd Cos., paid Reiland Rentals LLC $3.7 million for seven multifamily properties located in Ankeny, records show. The properties include:
• 1292 S.E. Belmond Drive, which is valued at $520,000. The two-story building with eight units was constructed in 1970.
• 1114 S.E. Belmont Drive, which is valued at $764,000. The three-story building with 12 units was constructed in 1970.
• 118 N.W. State St., which is valued at $390,000. The two-story building with eight units was constructed in 1972.
• 1606 N.W. Second St., which is valued at $425,000. The two-story building with eight units was constructed in 1971.
• 114 N.W. State St., which is valued at $710,000. The two-story building with 16 units was constructed in 1971.
• 117 and 201 N.W. College Ave., both of which are valued at $461,000. The two two-story buildings, each with eight units, were constructed in 1969.
The transaction was recorded June 7.
Titan Investments LLC, based in Johnston, paid Blue Marble Investments LLC $1.98 million for property at 1955 and 1975 N.W. 92nd Court in Clive, records show. The property at 1955 N.W. 92nd Court includes a 15,000-square-foot warehouse constructed in 1976. The property is valued at $556,000. The property at 1975 N.W. 92nd Court includes a 20,000-square-foot warehouse built in 1978. The property is valued at $741,000. The transaction was recorded June 7.
Stubbs Development LLC, based in Altoona, paid Darryl and Angela Bresson $2 million for 35 acres of undeveloped land located north of Northeast 27th Avenue at about 35th Street Southwest in Altoona, records show. The transaction was recorded June 7.
A West Des Moines investment group, IPE1031 REV378 LLC, paid the Walter Leroy Stewart Family Trust $1.6 million for 165 acres of farm ground located on the northeast corner of Northeast 70th Avenue and Northeast 106th Street in Franklin Township, records show. The transaction was recorded June 7.
Jackson, Wyo.-based Food LLC paid Westowne Center Associates LLC $2.57 million for property at 1570 22nd St. in West Des Moines, records show. The transaction was recorded June 8.
Paul Erickson and Elizabeth Erickson Revocable Trusts paid Daniel DeCarlo $1.1 million for property at 11890 N.W. Brookview Land in Grimes, records show. The property includes a 2,370-square-foot house built in 2002. The transaction was recorded June 8.