NOTABLE TRANSACTIONS: Texas entities purchase 2 Des Moines apartment complexes
BPC Staff Jun 29, 2021 | 11:23 pm
5 min read time1,097 wordsAll Latest News, Real Estate & Development
Two investment groups based in Frisco, Texas, have purchased apartment complexes located on Des Moines’ south side, Polk County real estate records show.
DSM Portfolio I Holdings LLC and MKC Properties Holdings LLC paid Willow Park Partners LLC $13.45 million for property at 200 Dickman Road (pictured), records show. The property includes nine three-story apartment buildings and an office building, all constructed between 1976 and 1977. Each apartment building includes 30 units. Garages are included with some units.
The property is valued at $12.1 million.
The investment entities also paid Hillcrest Group LLC $4.9 million for property at 7201 S.E. Fifth St, records show. The property includes three three-story apartment buildings, each with 30 units. The buildings were constructed in 1977.
The property is valued at $4.6 million.
Both transaction were recorded June 22.
In other real estate transactions:
Urbandale Center LLC, based in Clive, paid the Charles Colby and Ruth Colby Trust No. 2 $940,000 for properties at 6901 Douglas Ave., 6931 Douglas Ave. and 3806 69th St. in Urbandale, records show. The properties include a single-family house built in 1938, a 1,161-square-foot single-story office/warehouse building, and a 6,955-square-foot neighborhood strip center. The transaction was recorded June 14.
3901 Ingersoll LLC paid Brown Office LLC $950,000 for properties at 3901 Ingersoll Ave. and 618 39th St. in Des Moines, records show. The property on Ingersoll Avenue includes a 4,480-square-foot medical office building constructed in 1975. That property is valued at $551,000. The property on 39th Street includes a surface parking lot. The property is valued at $33,100. The transaction was recorded June 14.
Jacob and Katelyn Buhrow paid Eric and Diana Anderson $1.15 million for property at 8212 N.W. 114th St. in Grimes, records show. The property includes a 2,984-square-foot single-family house constructed in 2013. The transaction was recorded June 14.
Brown Truck Leasing Corp., based in Urbandale, paid the Nadine Green Trust $2.7 million for 24.8 acres at 1543 S.E. 72nd St. in Ankeny, records show. Opus Development Company LLC plans on building a 277,000-square-foot warehouse on the site. The transaction was recorded June 15.
David and Anne Johnson paid Darren and Amy Schlapkohl $1.1 million for property at 12817 Cardinal Lane in Urbandale, records show. The property includes a 1 1/2-story, 4,433-square-foot single-family house constructed in 1980 and remodeled in 2017. The transaction was recorded June 16.
Franklin Real Estate LLC, based in Norfolk, Neb., paid Marina Development LLC $1.35 million for property at 5480 N.W. Beaver Drive in Johnston, records show. The property includes two metal one-story structures with about 20,000 square feet of warehouse and office space. The property is valued at $846,000. The transaction was recorded June 16.
VareCo 3708 SE 14th LLC, based in Denver, Colo., paid Southern Knolls LLC $5.4 million for properties at 3708 to 3726 S.E. 14th St. in Des Moines, records show. The properties include Southern Knolls Apartments, nine three-story buildings constructed between 1968 and 1969. The buildings each include 12 apartment units. The parcels are valued at $3.1 million. The transaction was recorded June 17.
SP Iowa Properties LLC, based in Strawberry Point, Iowa, paid M-KEDS Ltd. II $802,440 for undeveloped property at 1200 and 1300 S.E 25th St. in Grimes, records show. The transaction was recorded June 17.
Ankeny-based Denny Elwell Family LC paid Pioneer Hi-Bred International Inc. $2.15 million for property at 4780 N.W. 158th Ave. in Polk City, records show. The 95.6 acres includes agriculture-related buildings as well as an office, warehouse and laboratories, records show. The property is valued at $551,700. The transaction was recorded June 25.
IHWOP LLC, based in Des Moines, paid KC Holdings XI LLC $2.1 million for property at 9999 University Ave. in Clive, records show. The property includes a 33,122-square-foot retail center constructed in 1985. The center previously included a Nobbies Parties store that closed in 2019. The property is valued at $2.29 million. The transaction was recorded June 25.
Anna Bibi Trust, based in West Des Moines, paid George Cataldo Revocable Trust $1 million for property at 5712 Gallery Court in West Des Moines, records show. The property includes a 4,439-square-foot townhouse built in 1994. The transaction was recorded June 25.
Holmen Office Associates, a Wisconsin limited partnership, and Fox Hollow LLC, Wisconsin limited liability company, paid 34th Avenue SW LLC $3.98 million for property at 765 34th Ave. S.W. in Altoona, records show. The property includes a 6,264-square-foot building constructed in 2020 and occupied by Firestone Auto Care. The transaction was recorded June 24.
Bankers Trust Co. acquired property at 8700 Crescent Chase (pictured) in Johnston for $5 million through foreclosure, according to property and court records. The property had been owned by Adaje Development Inc., based in Golden Valley, Minn. Adaje Development had a $3.2 million mortgage on the property, according to records recorded in September 2009. The 2.4-acre parcel includes a 30,184-square-foot one-story office building constructed in 2009 and remodeled in 2018. The property is valued at $4 million. The transaction was recorded June 24.
Hurd Columbus LLC, managed by West Des Moines-based Hurd Real Estate Services, paid GRD Burleson LLC $2.16 million for property at 6130 N.W. 86th St. in Johnston, records show. The property includes a Kum & Go convenience store with fuel pumps. The 3,358-square-foot retail store was constructed in 1998. The property is valued at $1 million. The transaction was recorded on June 24.
Clive-based Mozart Properties LLC paid Simpson Enterprises Inc. $2.2 million for 38 acres of undeveloped ground located on the southwest corner of Northwest 70th Avenue and Northwest 86th Street in Johnston, records show. The transaction was recorded June 23.
Kenneth and Megan Cadematori paid the Plank Family Revocable Trust $1 million for property at 1203 Burr Oaks Drive in West Des Moines, records show. The property includes a 2,626-square-foot house built in 2010. The transaction was recorded June 23.
West Des Moines-based Galloway Holdings LLC paid EIG14T KCE IA Waukee LLC $5 million for property at 1155 S.E. Kettlestone Blvd. in Waukee, Dallas County real estate records show. The property includes a 1.5-acre tract located east of Grand Prairie Parkway. An 11,900-square-foot Kindercare day care facility is under construction on the site. Construction of the single-story building began in September; the facility is expected to open by late summer. EIG14T KCE IA Waukee purchased the property in September. The most recent transaction was recorded on June 14.
The Dale Decker Trust paid Adam and Sabrina Wright $1.55 million for property at 60 Ford Lane in Waukee, records show. The property includes a two-story, 2,635-square-foot single-family house constructed in 2017. The transaction was recorded June 23.