NOTABLE TRANSACTIONS: California equity group buys medical office building in West Des Moines for $12.9 million
Kathy A. Bolten Jan 7, 2026 | 6:00 am
3 min read time
714 wordsAll Latest News, Real Estate and DevelopmentA private equity firm located in Irvine, Calif., has acquired property in West Des Moines that includes a multi-tenant medical office building, Polk County real estate records show.
IRA Capital, doing business as 5901 Westown Pkwy LLC, paid 5901 Westown Parkway MOB LLC $12.9 million for the property at 5901 Westown Parkway, records show. IRA Capital, which was founded in 2010, describes itself as “one of the largest privately held acquirers of medical real estate in the U.S.” The group typically buys medical properties valued at between $10 million and $250 million, according to its website.
The Westown Parkway property includes a two-story, 82,072-square-foot building with a brick exterior. The building was constructed in 2002. Tenants in the building include MercyOne Obstetrical & Gynecological Associates, Surgery Center of Des Moines – West, Des Moines Eye Surgeons and Iowa Allergy.
The property, which includes 5.6 acres, is valued at $17 million.
The transaction was recorded Dec. 29.
In other transactions:
An Omaha-based development company acquired nearly 10 acres of undeveloped land in Ankeny from DRA Properties, records show. TSPTN25 LLC, managed by SP Communities LLC, acquired the property near Southwest 10th Lane and Southwest Des Moines Lane for $2.1 million. The property is adjacent to Sterling North at Prairie Trail, an apartment development by SP Communities. The transaction was recorded Dec. 29.
Limited liability companies managed by a Baltimore investment group, has acquired warehouse property at 2402 21st St. NW in Altoona, records show. I80 BC Owner LLC and seven other limited liability companies, all managed by JSB Capital Group, paid Hawkeye Investment Partners I LLC $30 million for the property, records show. The 16-acre parcel includes a 259,056-square-foot warehouse built in 2023. The property is valued at $28.1 million. The transaction was recorded Dec. 29.
Hope K Farms LLC, located in West Des Moines, paid 4425 NE 108th St LLC just over $2 million for farmland at Northeast 108th Street and Northeast 46th Avenue in Beaver Township, records show. The property includes 118 acres of farm land. The transaction was recorded Dec. 29.
Genesis Homes Inc., located in Waukee, paid Hope Timber LLC just over $1 million for 16 residential lots in Hope Timber Villas Plat 1 in Grimes, records show. The transaction was recorded Dec. 30.
Casey’s Marketing Co., located in Ankeny, paid DRA Properties LC $1.8 million for property at 2135 NE 36th St. in Ankeny, records show. The property includes 1.7-acre developable lot. The transaction was recorded Dec. 30.
Lawrence and Lori Corkery of Jesup, paid JRL Holding Co. LC $3.7 million for property at 1515 E. Euclid Ave. in Des Moines, records show. The 3.8-acre parcel includes a 65,620-square-foot office/warehouse building constructed in 2000. The property is valued at $3.8 million. The transaction was recorded Dec. 30.
AB Collective LLC, located in Clive, paid ZB Investments LC $3.8 million for property at 4451 112th St. in Urbandale, records show. The nearly 3-acre parcel includes a 47,840-square-foot warehouse built in 1995. The property is valued at $3.8 million. The transaction was recorded Dec. 31.
JD & Sons Properties LLC, located in Fort Calhoun, Neb., paid Fuller Group LLC $1.4 million for property at 1614 Fuller Road in West Des Moines, records show. The property includes a 13,200-square-foot building that was constructed on the 1-acre parcel in 1968. The property is valued at $543,000. The transaction was recorded Dec. 31.
QT Ankeny LLC and AMCB Ankeny LLC paid RW Hurd LLC $1.5 million for property at 802 E. First St. in Ankeny, records show. The 1.1-acre property includes a 3,250-square-foot convenience store occupied by Quick Trip. The property is valued at $1.4 million. The transaction was recorded Dec. 31.
Copper Creek Holdings LLC, located in Manchester, paid the George Cataldo Revocable Trust $3.5 million for property at 1225 Copper Creek Drive in Pleasant Hill, records show. The property includes a 29,506-square-foot multi-tenant shopping center built in 1998. Tenants include Pizza Bar, Bubbies BBQ, Salon Trendz-n-Nails, Veranda Dentistry and Scooters Coffee. The property is valued at $3.7 million. The transaction was recorded Dec. 31.
CKL Revocable Trust paid Harvester Ridge Builders LLC just over $1 million for property at 6332 NE Grant Lane in Ankeny, records show. The property includes a recently completed townhome. The transaction was recorded Jan. 2.
Kathy A. Bolten
Kathy A. Bolten is a senior staff writer at Business Record. She covers real estate and development, workforce development, education, banking and finance, and housing.


