NOTABLE TRANSACTIONS: Nashville group pays $36.7 million for medical office building in West Des Moines
Kathy A. Bolten Dec 31, 2025 | 6:00 am
6 min read time
1,376 wordsAll Latest News, Real Estate and DevelopmentA limited liability company managed by Nashville-based Healthcare Realty Inc. has acquired medical office property at 5880 University Ave. in West Des Moines, Polk County real estate records show.
Healthcare Realty,which describes itself as the first and largest real estate investment trust focused on medical outpatient buildings, paid $36.7 million for the 7.8-acre parcel. The company is publicly traded and owns nearly 600 properties in the U.S.
The West Des Moines property includes a two-story, 79,916-square-foot office building that was constructed in 2004. Iowa Heart Center and Vein Center at Iowa Heart are among the occupants of the building.
The property is valued at $24.6 million. The transaction was recorded Dec. 24.
In other transactions:
3700 Prairie Fire Drive LLC, located in Des Moines, paid Hurd MCW Altoona LLC $5.8 million for property at 3700 Prairie Fire NW in Altoona, Polk County real estate records show. The 1.5-acre parcel includes a 6,488-square-foot car wash that was built in 2022. Mister Car Wash occupies the building. The property is valued at $3.2 million. The transaction was recorded Dec. 15.
Joel and Patricia Drake paid the Gordan Neumann Jr. Living Trust just over $1 million for property at 3950 John Lynde Road in Des Moines, records show. The property includes a 3,293-square-foot, two-story house that was built in 1953. The transaction was recorded Dec. 16.
Hubbell Homes LC, located in West Des Moines, paid Deer Creek Ankeny Inc. just over $1 million for 11 residential lots in plat 13 of Crossings at Deer Creek in northeast Ankeny, records show. The transaction was recorded Dec. 16.
The city of Urbandale paid PMR Realty Group LLC $1.1 million for property at 4730 86th St. in Urbandale, records show. The nearly 1.5-acre parcel is not developed. The transaction was recorded Dec. 16.
Altoona Partners LLC, located in Wichita, Kan., paid Wayside Acres LLC $2.7 million for property at 3053 Eighth St. SW in Altoona, records show. The 1.1-acre parcel includes a 9,800-square-foot neighborhood shopping center built in 2017. The property is valued at $2.4 million. The transaction was recorded Dec. 17.
Gator 25 LLC, located in Princeton, N.J., paid 5820 Winwood Drive LLC $9.2 million for property at 5820 Winwood Drive in Johnston, records show. The 1.5-acre parcel includes a 15,500-square-foot facility that previously housed MercyOne Johnston Hospice Care. The facility closed in 2023. Records show that a recovery center is currently located in the facility. This is the third time since November 2024 that ownership of the property has changed. In November 2024, Peak Realty, located in Las Vegas, acquired the property. In May, Fort Lauderdale, Fla.-based 5820 Winwood Drive LLC acquired the property, which is now valued at $3.9 million. The most recent acquisition was recorded Dec. 17.
Shannon Miller and Eric Fitzgerald paid Long Homes LLC $1.2 million for property at 933 18th St. in Des Moines, records show. The property includes a three-story, 7,788-square-foot apartment building constructed in 1915. The building, known as Olive Apartments, has 12 units. The property is valued at $603,000. The transaction was recorded Dec. 17.
Two Companies LLC, located in Ankeny, acquired a 7-acre parcel at 1475 NE Rueter Drive in Ankeny for $2.27 million, records show. The property was sold by Alex Rueter, Alexis Rueter, R-Pact Holdings LLC, Paige Rueter Benlaala, and Mehdi Benlaala. The property is not developed. The transaction was recorded Dec. 19.
Maust Property Management Co. LP, located in Prior Lake, Minn., paid Mary Carney $1.5 million for property at 1914 E. Euclid Ave. in Des Moines, records show. The 15-acre parcel includes a 32,368-square-foot warehouse built in 1970. The property is valued at $1.6 million. The transaction was recorded Dec. 19.
TP84 LLC, located in Ankeny, paid MJPD Ventures LLC $3.75 million for property at 1200 NW 36th St. in Ankeny, records show. The 1.5-acre parcel includes a 10,800-square-foot neighborhood shopping center that was constructed in 2022. The property is valued at $2.9 million. The transaction was recorded Dec. 19.
Arbordale of Iowa LLC, located in Bellevue, Wash., paid Essex Buligo of Urbandale LLC $22 million for property at 2727 82nd Place in Urbandale, records show. The nearly 6-acre parcel includes a 197,385-square-foot continuing care facility built in 2003. The property is valued at $15.3 million. The transaction was recorded Dec. 22.
Four limited liability companies acquired property at 4485 NE 22nd St. in Des Moines from Des Moines TPE LLC, records show. The companies – BPT DSM Propco LLC, BPT DSM Propco 2 LLC, BPT DSM Propco 3 LLC and BPT DSM Propco 4 LLC – paid $1.8 million for the 4.6-acre parcel. The property includes a 10,500-square-foot warehouse built in 1972. The transaction was recorded Dec. 22.
Daniel Tauke and Thu Tauke paid Hammond Blumberg Family Revocable Trust $1.1 million for property at 5930 Fairway Court in West Des Moines, records show. The property includes a 2,807-square-foot house built in 2007. The transaction was recorded Dec. 22.
Ambica215 LLC, located in Urbandale, paid N&S Hospitality Inc. $2.7 million for property at 251 SE Gateway Circle in Grimes, records show. The 2.5-acre parcel includes a 54-unit hotel built in 2000. The property, which is occupied by American Inn, is valued at $2.35 million. The transaction was recorded Dec. 22.
Des Moines Children’s Museum, located in West Des Moines, paid United Community Services Inc. $2.3 million for property at 1300 Woodland Ave. in West Des Moines, records show. The 4.6-acre parcel includes a 20,285-square-foot, one-story building that previously was occupied by a medical office. The property is valued at $4.7 million. The transaction was recorded Dec. 23.
Integrity Point Real Estate LLC, located in Johnston, paid 7G Development LLC $2.9 million for property at 8951 Windsor Parkway and 5909 NW 90th St. in Johnston, records show. The 1.3-acre parcel on Windsor Parkway includes an 11,595-square-foot office building constructed in 2021. The property is valued at $2.5 million. The adjacent property on Northwest 90th Street includes 1.4 acres and is undeveloped. The transactions were recorded Dec. 23.
Aligned Holdings of Des Moines LLC, based in White Plains, N.Y., paid Weston Park Owners LLC $29.1 million for multifamily properties at 4200 and 4205 Park Ave. in Des Moines, records show. The property at 4200 Park Ave. includes the 184-unit Weston Apartments that were built in 1973. The property is valued at $12.7 million. The property at 4205 Park Ave. includes the 132-unit Pine Ridge Apartments, which also was developed in 1973. The property is valued at $9.1 million. The transactions were recorded Dec. 24.
Limited liability companies managed by the San Diego-based Clipper Capital Group
Inc. have acquired the Johnston Gardens Apartments at 5705 Merle Hay Road in Johnston, Polk County real estate records show. The limited liability companies paid Johnston Merle Hay & 57th LLC $11.8 million for the 4.5-acre parcel that was developed in 2016. Clipper Capital Group manages multifamily properties in Arizona, New Mexico, Nebraska and Oregon, according to its website. The purchase of Johnston Gardens Apartments appears to be the company’s first acquisition in Iowa. The Johnston property is valued at $10.1 million. The transaction was recorded Dec. 24.
Dallas County
Stine Seed Farm Inc., located in Adel, paid Kent and Paige Eby $1.5 million for farm ground east of Dallas Center, Dallas County real estate records show. The land is south of Iowa Highway 44 and east of Sportsman’s Club Road. The transaction was recorded Dec. 22.
Patrick and Julie McGonegle paid Donna and Joseph Muhs Jr. $1.6 million for property at 29054 Prospect Ave. in Adel, records show. The property includes a house built in 2019. The transaction was recorded Dec. 22.
Robert and Cara Van Steenis paid Bradley and Brandy Stanbrough $2 million for property at 740 Century Circle in Waukee, records show. The property includes a 3,372-square-foot ranch-style house built in 2019. The transaction was recorded Dec. 19.
Casey’s Marketing Co., headquartered in Ankeny, paid AP GPP LC $1.6 million for property at 3090 Grand Prairie Parkway in Waukee, records show. The 1.4-acre parcel is undeveloped. The transaction was recorded Dec. 19.
Brian and Hannah Montgomery paid Heuton Homes LLC $1.3 million for property at 5324 175th St. in Urbandale, records show. The property includes a 3,424-square-foot house whose construction was recently completed. The transaction was recorded Dec. 16.
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.


