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Three states and $30 million in apartments

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Last month, $30 million worth of Central Iowa apartments traded hands.

Peter Fazio of Fazio Mountain LLC in San Francisco sold several properties to Wayzata, Minn.-based Monitor Finance LLC. According the Polk County assessor, the transactions took place on Sept. 5 and Sept. 13 and totaled $30 million.

The apartment buildings are in Des Moines, West Des Moines, Urbandale and Johnston. Fazio, who has sold most of his holdings in Greater Des Moines, declined to comment for this story.

Daren Marhula of Monitor Finance said Greater Des Moines is a good spot for apartment investment. “We’ll continue to invest in the area,” he said. The transaction with Fazio Mountain added 673 units to Monitor Finance’s portfolio. Marhula said the $30 million price tag for the units was a typical transaction for the firm.

This is the third set of apartment buildings Monitor Finance has purchased in Greater Des Moines.