Polo Club Apartments in West Des Moines were recently sold for $38 million, records show.
According to a news release, commercial real estate investment and sales firm Greysteel represented the seller, Polo Club LLC, in the transaction. Property records show the buyer was Polo Club Owner LLC.

The sale was recorded on March 24 in Dallas County.

According to the news release from Greysteel, the buyer plans a full renovation of the property at 6201 EP True Parkway.

Polo Club apartments were built in 1998. They include 277 two-bedroom units.

BJ Connolly, managing director of Greysteel, said in the release that the firm is seeing strong interest from investors for multifamily properties.

“Investors are increasingly recognizing the upside potential in suburban secondary markets across the Midwest and the country, signaling continued confidence in targeted growth opportunities,” he said.

Polk County

PW Fund B LP, managed by Sacramento, Calif.-based Buzz Oates, paid Endeavor Investments VIII LLC $16.6 million for property at 7125 S.E. Delaware Ave. in Ankeny, Polk County real estate records show. The 11.7-acre parcel includes a 180,000-square-foot warehouse that was built in 2022. In August 2024, Buzz Oates acquired similarly designed warehouse property that is now occupied by a same-day delivery facility occupied by Amazon Inc. The Delaware Avenue property is valued at $18.5 million. The transaction was recorded April 17.

David and Gina Keck paid Benjamin and Abigail Bunge $1.9 million for property at 11085 N.W. Towner Drive in Johnston, records show. The 6.6-acre parcel includes a one-story house built in 2021. The transaction was recorded April 14.

Steven and Sabrina Casteel paid Dynasty Partners Homes LLC $1.1 million for property at 8020 N.W. 106th Court in Johnston, records show. The one-story home was built in 2024. The transaction was recorded April 16.

David and Daphne Paulsen paid the Steven McFadden Irrevocable Trust $1.99 million for property at 5135 Ashworth Road in West Des Moines, records show. The nearly 4-acre parcel includes a two-story house built in 1954 and remodeled in 2019. The transaction was recorded April 16.

Sumitra Shakya and Shishir Khadka paid EPC LLC $1.9 million for property at 1400 E. Walnut St. in Des Moines, records show. The property includes a three-story, 30-unit apartment building constructed in 1977. The property is valued at $1.6 million. The transaction was recorded April 17.

KLBB Real Estate 4 LLC, located in Clive, paid TDS Properties LLC $1.2 million for property at 800 13th St. in Clive, records show. The property includes a three-story, 12-unit apartment building constructed in 1966. The property is valued at $1.2 million. The transaction was recorded April 17.

Dallas County
The Andrew and Andrea Hamilton Living Trust paid JAM Partners LLC $1.4 million for property at 1 Sugar Creek Lane in Waukee, Dallas County real estate records show. The property includes a two-story, 4,041-square-foot house that was built in 2000. The transaction was recorded April 16.

Matthew and Heather Mouser paid Adam and Kelly Niebrugge just over $1 million for property at 17649 Berkshire Parkway in Clive, records show. The property includes a one-story, 2,632-square-foot house that was built in 2019. The transaction was recorded April 15.