An apartment complex located at 1704 N.E. Gateway Court in Grimes recently was sold for $50.6 million. Photo courtesy of the Polk County assessor

An Indianapolis group has purchased an apartment complex in Grimes, paying $50.6 million for the recently completed development, Polk County real estate records show.

The Summit at Heritage LLC, managed by Nantucket Cove Investments LLC, bought the 309-unit complex from DR Horton-Iowa LLC, based in Arlington, Texas. The complex, built on 15 acres, is located at 1704 N.E. Gateway Court in Grimes.

The complex includes six three-story apartment buildings. Garages are also included with many of the units.

Construction of the complex, valued at $33.2 million, began in 2019.

The transaction was recorded Sept. 21.

In other transactions:

The state of Iowa paid Miller Farm Properties LLC $960,250 for nearly 42 acres south of Northwest Beaver Drive and west of Northwest 89th Court in Jefferson Township, records show. The ground is classified agricultural. The transaction was recorded Sept. 20.

1st Street Flats LLC, based in Urbandale, paid the Dortha Nash estate $2.28 million for property at 2101 W. First St. in Ankeny, records show. The property includes the 48-unit Mark III Apartments, constructed in 1973. The three-building complex is valued at $2.2 million. The transaction was recorded Sept. 21.

Jeret and Marcy Donelson paid Kenneth and Callie Sandquist $1 million for property in Washington Township. An exact address was not available. The transaction was recorded Sept. 21.

Rio Fortuna LLC paid Uptown Ankeny Partners LLC $4.2 million for property at 719 S.W. Third St. in Ankeny, records show. The property includes the three-story, 36-unit Uptown Lofts (pictured at right), an apartment project developed in 2018. The property is valued at $4.1 million. The transaction was recorded Sept. 22.

TFC Grimes Retail LLC, based in Salt Lake City, paid Hy-Vee Inc. $1.1 million for property at 1501 E. First St. in Grimes, records show. The nearly 1.4 acres are undeveloped. The transaction was recorded Sept. 22.

KLC Hawkeye Investments LLC, based in Santa Clara, Utah, paid Hope Properties and Management LLC $2.55 million for property at 2150 N.E. 18th St. in Grimes, records show. The property includes 14 condominiums. The transaction was recorded Sept. 23.

Rio Fortuna LLC paid Uptown Ankeny Partners LLC $4.2 million for property at 719 S.W. Third St. in Ankeny, records show. The property includes the three-story, 36-unit Uptown Lofts (pictured at right), an apartment project developed in 2018. The property is valued at $4.1 million. The transaction was recorded Sept. 22.

TFC Grimes Retail LLC, based in Salt Lake City, paid Hy-Vee Inc. $1.1 million for property at 1501 E. First St. in Grimes, records show. The nearly 1.4 acres are undeveloped. The transaction was recorded Sept. 22.

KLC Hawkeye Investments LLC, based in Santa Clara, Utah, paid Hope Properties and Management LLC $2.55 million for property at 2150 N.E. 18th St. in Grimes, records show. The property includes 14 condominiums. The transaction was recorded Sept. 23.