The Artisan Capital Group, in a partnership with Schwartz Capital Group, has acquired Campus Town, a 97-unit apartment development in Ankeny, paying $11.96 million for the property, Polk County real estate records show.

Artisan acquired the property at 1210 S.W. 28th St. from Campus Town LLC.

The acquisition continues Artisan’s expansion in Central Iowa, where the company owns and operates over 3,000 units.

“Ankeny is now the largest suburb of Des Moines and one of the fastest-growing communities in the Midwest and country,” Sean Fogarty, a partner at Artisan Capital Group, said in a prepared statement. “This acquisition aligns perfectly with our strategy of targeting high-quality assets in dynamic markets.”

Campus Town, built in 2013, originally was developed as student housing for Des Moines Area Community College, which is north of the multifamily property.

The four-story apartment building includes 11 one-bedroom, 78 two-bedroom, and eight three-bedroom units. Amenities include a fitness center, game room, rooftop lounge, and parking, with additional potential to repurpose approximately 3,960 square feet of vacant ground-floor commercial space as well as other areas within the community.

The property is valued at $13.6 million.

The property will be rebranded as the Franklin and reposition it as a conventional, market-rate apartment community, according to a news release. The transition will simplify operations and expand the renter pool, while still benefiting from significant student demand given the proximity to the community college, which has an enrollment that exceeds 24,000 students, the news release said.

Artisan plans to make upgrades to the property including renovations to the interior of units, amenity updates, HVAC and plumbing improvements, landscaping and parking lot improvements, and new signage.

Artisan Management Group, the firm’s management group, will oversee operations at the Franklin.

Artisan Capital Group, headquartered in Chicago, owns and manages affordable, market-rate, and student housing communities in eight states. The group, formed in 2017, has a portfolio of nearly 7,500 apartment units. Artisan has a regional office in Des Moines.

The Ankeny transaction was recorded Aug. 21.

In other transactions:

Albert Perez Jr. and Kimberly Perez paid Augustine Lauridsen $1.2 million for property at 3708 Southern Hills Drive in Des Moines, records show. The property includes 3,677-square-foot ranch-style house built in 1965 and remodeled in 2020. The transaction was recorded Aug. 19.

Aterra 202 9100 Northpark Dr Urbandale LLC, managed by Bernau Capital Partners, paid Mid America Investment Co. $10.5 million for property at 9100 Northpark Drive in Urbandale, records show. Bernau Capital Partners is located in West Des Moines. The 13.1-acre parcel includes a three-story office building with 91,985 square feet of space. The building was constructed in 2001. The property is valued at $15.2 million. The transaction was recorded Aug. 20.

Stone Monroe Properties LLC, located in Johnston, paid Raptor Properties LLC $2.5 million for property at 4989 N.W. Johnston Drive in Johnston, records show. The 2.3-acre parcel includes a 13,700-square-foot office/warehouse built in 2020. The property is valued at $1.8 million. The transaction was recorded Aug. 20.

WDM Meadows LLC, located in West Des Moines, paid Swift Properties LLC $5.8 million for property at 704 13th St. and 828 12th St., both in West Des Moines, records show. The 13th Street property includes the 41-unit West Glen Apartments, built in 1969. The property is valued at $3.16 million. The 12th Street property includes the 30-unit Clover Hills Apartments, built in 1995. The property is valued at $2.6 million. The transaction was recorded Aug. 20.

Rogue Equities LLC, located in Savage, Minn., paid Paradise CAC LLC $1.1 million for property at 6136 S.E. 14th St. in Des Moines, records show. The property includes a 3,384-square-foot auto repair shop built in 1986. The building is occupied by Jiffy Lube. The property is valued at $508,000. The transaction was recorded Aug. 21.

Terry and Debra Whitlock paid Kirkwood Plaza Corp. $1.9 million for property at 1910 S.W. White Birch Circle in Ankeny, records show. The 1.5-acre parcel includes a 3,431-square-foot convenience store with gasoline pumps. The store is occupied by Kum & Go. The property is valued at $1.9 million. The transaction was recorded Aug. 21.

1100 Cherry Street LLC, located in Ames, paid Wells Fargo Properties Inc. $1.3 million for property at 1100 Cherry St. in Des Moines, records show. The property (pictured at right) includes a 16,723-square-foot, one-story warehouse built in the early 1900s. The property, valued at $595,000, is among several parcels Wells Fargo sold in August. The financial institution sold seven of its downtown properties to a holding company headquartered in Grand Island, Neb. The total purchase price of the properties was $32 million. The transaction with the Ames limited liability company was recorded Aug. 21.

Iowa Shelly Rose LLC, located in Urbandale, paid Elsie Rae Holdings LLC $2.7 million for property at 3721 Indianola Ave. in Des Moines, records show. The property includes a three-story, 28-unit apartment building constructed in 2005. The property is valued at just over $3 million. The transaction was recorded Aug. 21.

R&J Weis Holding Company 14 LLC, located in Cambridge, paid Park Avenue Partners LC $3.9 million for property at 4954 86th St. in Urbandale, records show. The 1.4-acre parcel includes a 6,246-square-foot restaurant built in 2013. Pizza Ranch occupies the building, records show. The property is valued at $1.8 million. The transaction was recorded Aug. 22.

Dallas County

David and Barbara Wenig paid Denise McDaniel $1.1 million for property at 3123 162nd St. in Urbandale, Dallas County real estate records show. The property includes a 4,085-square-foot house built in 2010. The transaction was recorded Aug. 18.

M&M Acquisition LLC, located in Brentwood, Tenn., paid IA8 – 156th and Hickman LLC $4.5 million for property at 15451 Hickman Road in Clive, records show. The property includes a 4,808-square-foot full-service car and truck wash. The one-story building was constructed in 2025. The transaction was recorded Aug. 22.