Top deal: $50 million | Des Moines

Artisan Capital Group, in a partnership with Eastham Capital, acquired Cityville on 9th, a 312-unit multifamily development at 580 S.W. Ninth St. in Des Moines. Artisan Capital Group paid Hubbell Realty Co. $50 million for the property. Hubbell Realty developed Cityville, which includes nine buildings, between 2013 and 2018. The first phase opened in 2014. The property was valued at $43 million in 2024. The transaction was recorded May 6, 2024. Photo by Duane Tinkey

Other deals

$32.8 million | West Des Moines

Canyon View Capital, based in Santa Cruz, Calif., paid Capreit Inc. $32.78 million for Pointe West Apartment Homes at 4601 Pleasant St. in West Des Moines. The 223-unit multifamily complex is Canyon View Capital’s first acquisition in Iowa. The property, developed in 1989, was valued at $25.7 million in 2024. The transaction was recorded July 22. 

$31.6 million | Waukee

Limited liability companies based in Tempe, Ariz., acquired Midwest Country Estates, a manufactured home park in Waukee. Westridge MHP LLC and West Bluff MHP LLC paid MH Midwest LLC and MD Midwest LLC $31.6 million for the 64-acre parcel. The park was developed in 1969 and includes 320 lots. The property was valued at $8.8 million in 2024. The transaction was recorded Nov. 15.

$29 million | Des Moines

415 SW 11th Street LLC, based in Fargo, N.D., paid Sherman Associates, doing business as Nexus at Gray’s Landing LLC, $29 million for a 142-unit apartment complex at 415 S.W. 11th St. in Des Moines. The property, developed in 2017, was valued at $27.9 million in 2024. The transaction was recorded March 29, 2024.

$28.9 million | Ankeny

Autumn Ridge Owner LLC, based in Los Angeles, paid Sun Autumn Ridge Estates LLC $28.9 million for property at 2300 S.E. Winter Park Drive in Ankeny. The 76-acre parcel includes Autumn Ridge mobile home park that was developed in 1980. The property was valued at $18.6 million in 2024. The transaction was recorded Aug. 8.

$25 million | Urbandale

Walnut Lake Acquisition LLC, based in Bloomfield, Wis., paid WBA Walnut Lake LLC $25 million for a multifamily development at 4410 142nd St in Urbandale. The transaction was recorded May 23, 2024.

$24.7 million | Des Moines

A limited liability company based in Lakewood, Colo. acquired multifamily complexes on Des Moines’ south side. HMR Pty Owner LLC paid DSM Portfolio I Holdings LLC, located in Frisco, Texas, and MKC Properties Holdings LLC, located in Des Moines, $24.7 million for the properties at 200 Dickman Road and 7201 S.E. Fifth St. The transaction was recorded Feb. 21, 2024. 

$17.6 million | West Des Moines

A Denver, Colo.-based real estate investment firm acquired the Hamlet Apartments in West Des Moines from Hubbell Realty Co. True Parkway IA LLC, managed by Halaby Capital Partners in Denver, paid Hubbell Realty’s Hamlet Residential Cooperative $17.6 million for the nearly 12-acre parcel at 2200 EP True Parkway. The complex includes 180 apartment units spread over five, three-story buildings that were constructed in 1983. The property was valued at $15.6 million in 2024. The transaction was recorded Oct. 21.

$16.6 million | Des Moines

4216 Des Moines ST LLC, based in Los Angeles and managed by Curtis-Rosenthal Inc., paid Back Partners LLC $16.4 million for property at 4216 E. 50th St. in Des Moines. The complex includes three, three-story buildings with a total of 90 apartment units. The property was valued at $10.2 million in 2024. The transaction was recorded March 4, 2024.

$13.5 million | Des Moines

30th & Boston LLC, based in Denver, Colo., paid Oakview Terrace I LP $13.5 million for rental property in the 3000 block of Boston Avenue in Des Moines. The transaction includes the acquisition of the Oakview Terrace apartment complex at 3201 30th St. and several residential rental properties. The transaction was recorded Oct. 7.

Source: Polk and Dallas county assessor’s offices