Top deal: $45.6 million | Altoona

Avenue Living, a Canadian owner and operator of residential rental properties, paid Blue Ridge Commons LLC $52.8 million for a 324-unit apartment complex at 1401 Adventureland Drive NW in Altoona. The property was one of several purchased by the Canadian entity. The 18-acre parcel was developed between 2021 and 2023. Some of the apartments include attached garages. The property is valued at $45.6 million. The transaction was recorded Aug. 6. Photo by Duane Tinkey

Other deals

$38 million | West Des Moines

Polo Club Owner LLC, located in Des Moines, paid Polo Club LLC $38 million for an apartment complex at 6201 EP True Parkway in West Des Moines. The Polo Club apartments were built in 1998 and include 277 two-bedroom units. The property is valued at $27.9 million. The transaction was recorded March 24, 2025. 

$36.2 million | West Des Moines

Avenue Living paid Sun Prairie of West Des Moines LLC $36.2 million for a 324-unit apartment complex at 5703 Vista Drive in West Des Moines. The property was one of several purchased by the Canadian group. The complex, developed in the mid-2000s, includes 300 units. The property is valued at $28.5 million. The transaction was recorded Aug. 7.

$33.5 million | West Des Moines

Avenue Living paid 65th Street V LC $32.5 million for property at 6500 Vista Drive in West Des Moines. The property includes a 265-unit apartment complex developed in 1994. The property is valued at $19.4 million. The transaction was recorded July 24. 

$29.8 million | West Des Moines

Avenue Living paid 60th Street III LC $29.8 million for property at 6000 Vista Drive in West Des Moines. The 240-unit apartment complex was developed in 1992. The property is valued at $18.2 million. The transaction was recorded July 24. 

$29.4 million | Ankeny

Artisan Capital Group, a Chicago-based entity with a regional office in Des Moines, paid Tradition Apartments LLC $29.4 million for property at 807 SW 28th St. in Ankeny. Artisan partnered with MLG Capital in buying the property, which was developed in 2010 and includes 216 units. The complex was renamed Pointe 28. The property is valued at $26.1 million. The transaction was recorded Sept. 22. 

$29.1 million | Des Moines

Aligned Holdings of Des Moines LLC, based in White Plains, N.Y., paid Weston Park Owners LLC $29.1 million for properties at 4200 and 4205 Park Ave. in Des Moines. 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, also developed in 1973. The property is valued at $9.1 million. The transactions were recorded Dec. 24.

$24.7 million | West Des Moines

Fountain Terrace Property Investors LLC, located in Santa Cruz, Calif., paid Fountain Terrace Apartments LLC $24.7 million for property at 655 S. 88th St. in West Des Moines. The property, developed in 2000, includes 146 units. The property is valued at $17.8 million. The transaction was recorded Nov. 14. 

$22 million | Urbandale

Arbordale of Iowa LLC, located in Bellevue, Wash., paid Essex Buligo of Urbandale LLC $22 million for property at 2727 82nd Place in Urbandale. 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.

$21.8 million | Altoona

Avenue Living paid Altoona III LC $21.8 million for property at 1414-1616 Adventureland Drive NW in Altoona. The two buildings, each with four floors, include a total of 120 units. The development, known as Altoona Towers, was completed in 2014. The property is valued at $18.4 million. The transaction was recorded Aug. 6.

Source: Dallas and Polk assessors’ offices