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Banks continue to hold deeds to most of the 340-acre Michael’s Landing development in West Des Moines after a sheriff’s sale March 24 in Dallas County.

Community Business Lenders did not receive any bids after offering $8 million for the more than 100 acres it received in a foreclosure. The lender, which is owned by the Iowa Credit Union League of Des Moines and two credit unions, received the land and an $11.9 million judgment after a Regency company, Michael’s Landing LLC, defaulted on a development loan.

The sheriff’s sale results in the formal transfer of deeds to lenders if their minimum bids are not met or exceeded.

First National Bank Midwest, which received a $6.2 million court judgment on another failed loan to Michael’s Landing LLC, had been scheduled to post its property for auction but decided to postpone the sale.

Vantus Bank, Bankers Trust Co. and Freedom Financial Bank also own sections of Michael’s Landing as the result of Regency loans that went sour.

Other development land also remained under bank control after the auction.

Northwest Bank did not find any takers for its minimum bid of $3.1 million on a townhome development in Urbandale. The bank had been awarded a nearly $3.5 million court judgment after another Regency development company defaulted on a loan.

West Bank asked $1.25 million for land along South 60th Street in West Des Moines that it received after being awarded nearly $2.2 million in a court judgment against companies controlled by developer David Walters.

Land near 81st Street and E.P. True Parkway in West Des Moines remains under the ownership of First National Bank Midwest, which received no offers above its minimum bid of $1.95 million. The bank obtained the land after receiving a $2.2 million court judgment against a company owned by developer John C. Kline.