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NOTABLE TRANSACTIONS: Omaha group buys land for new Ankeny apartment development

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An Omaha-based development company has purchased 21 acres in Ankeny for a 400-unit apartment development, Polk County real estate records show. 
TSPTN21 LLC, managed by SP Communities LLC, paid DRA Properties $2.35 million for undeveloped ground near Southwest Elm Street and Southwest Magazine Road. The property is west of Ankeny High School and Southview Middle School and is part of Prairie Trail, a 1,031-acre development by DRA Properties.

The apartment development, called Sterling North at Prairie Trail (shown in rendering above), will be built in two phases, Jerry Slusky of SB Communities, said earlier this year.

SB Communities recently completed the second phase of its Sterling at Prairie Trail, 2333 S.W. Plaza Parkway in Ankeny.

A site plan for Sterling North at Prairie Trail shows four four-story buildings constructed around a pool and common area. A ring of garages and surface parking separates the larger buildings from 10 smaller multifamily structures.

The transaction was recorded May 20.

In other transactions:

John Flynn and Kristine Barakat Flynn paid Brian and Cheri Hewitt $1.3 million for property at 4245 Oakwood Lane in West Des Moines, records show. The property includes a two-story, 4,613-square-foot house built in 1998. The transaction was recorded May 24.

Hubbell Realty Co. paid Knapp & Associates LC $1.2 million for 7.1 acres of undeveloped land on the northeast corner of Douglas Parkway and 142nd Street in Urbandale, records show. Knapp & Associates had owned the ground since at least 2006, records show. The transaction was recorded May 25.

Seattle, Wash.-based BRH investments Iowa LLC paid University Park Apartments LLC $925,000 for property at 4200 and 4210 Knob Hill Drive in Des Moines, records show. The properties include apartment buildings, both two stories with eight units. The building at 4200 Knob Hill Drive was constructed in 1970 and is valued at $426,000. The building at 4210 Knob Hill Drive was built in 1977 and is valued at $432,000. The transaction was recorded May 25.

98 Investments LLC, based in Ankeny, paid SP Iowa Properties LLC $620,000 for 4.1 acres between Interstate Highway 35 and Northeast 22nd Street, records show. The undeveloped ground is located in a heavy industrial district. The transaction was recorded May 26.

98 Investments LLC
 paid Barker Financial LLC $2.2 million for property at 2701 McKinley Ave. in Des Moines, records show. The 3.7 acres includes a 23,378-square-foot office/warehouse building constructed in 1987. The property is valued at $879,000. The transaction was recorded May 27.

Dallas, Texas-based 520 SW 5th LC paid Hubbell Realty Co. $765,000 for property at 520 S.W. Fifth St. in Des Moines, records show. The property includes 1.2 acres and a 10,550-square-foot one-story building constructed in 1959. The building is listed in below-normal condition on the assessor’s website. The property, located north of the Raccoon River, is valued at $425,000, records show. The transaction was recorded May 27.

Perry Property Holdings LLC paid 2625 East Iowa Street Realty LLC $705,384 for property at 2625 E. Iowa St. in Perry, Dallas County real estate transactions show. Pearl Valley Rehabilitation and Healthcare Center, a long-term care facility, is located on the property. The 12,968-square-foot facility, constructed in 1968, has 31 rooms and space for 54 beds, according to the assessor’s web site. The property is valued at $1.3 million. The transaction was recorded May 25.

Jerry Bussanmas of Clive paid the Scott B. Neff Living Trust $1.3 million for about 37 acres in the 9500 block of Mills Civic Parkway in West Des Moines, records show. The transaction was recorded May 26.

Edwin and Cynthia Andrus paid Scott Iverson and Yanhui Yu $1.1 million for property at 33904 Woodridge Road in Adel, records show. The 5.1-acre parcel includes a 3,688-square-foot single-story house built in 2005. The transaction was recorded May 27.