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Urbandale apartment complex sold to Dallas group for $10.7 million

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A group located in Dallas, Texas, has purchased an apartment complex in Urbandale, Polk County real estate records show.

The property at 7800 Iltis Drive in Urbandale includes the 144-unit Timberland at Meredith apartment complex. Bexley Apartments LLC, based in Dallas, paid Timberland Partners XXVII LLP $10.7 million for the property, records show.
Timberland Partners had owned the property since 2002.

The complex, developed in 1974, includes 12 three-story apartment buildings, each with 12 units. Some of the units come with garages. An outdoor swimming pool and an office building with community rooms are also on the property.

The property in 2021 was valued at $8.3 million.

The transaction was recorded March 17.

In other transactions:

Amerco Real Estate Co., based in Phoenix, paid 2590 Investors LLC $5.7 million for property at 2590 Hubbell Ave. and 2131 E. 25th St., both in Des Moines, records show. The property on Hubbell Avenue includes a 91,096-square-foot structure built in 1971. The one-story building originally was home to Richman-Gordman, a Midwest-based discount department store chain. When the retailer went out of business, the property was converted to a warehouse with individual storage units for rent. The 8.5-acre parcel in 2022 was valued at $3.7 million. The property on East 25th Street is vacant. The transaction was recorded March 15.

UCI Holdings LLC, located in Clive, paid a group of property owners $2.5 million for property at 717 Lyon St. in Des Moines, records show. The 2.4-acre parcel includes a 14,380-square-foot medical office building constructed in 2006. Among the property’s six sellers were Jerry Witmer and Ladco Properties XXVI LLC. The property is valued at $2.8 million. The transaction was recorded March 16.

Crescent Chase JV23 LLC, located in Clive, bought two properties from Bankers Trust Co., records show. In the first transaction, the limited liability company purchased property at 8850 N.W. 62nd Ave. in Johnston for $2.7 million for property, records show. The 4.2-acre parcel includes a 41,080-square-foot, one-story office building constructed in 2008. The property is valued at $5.6 million. In the second transaction, the group purchased property at 8700 Crescent Chase in Johnston for $2.4 million. The 2.4-acre parcel includes a 30,184-square-foot, one-story office building constructed in 2014. The property is valued at just over $4 million. The properties abut one another. Both transactions were recorded March 16.

8481 Birchwood LLC, located in Waukee, paid Rick Davis and Irina Yavorskaya $1.5 million for property at 8481 Birchwood Court in Johnston, records show. The property includes a 5,988-square-foot building constructed in 2010. The property in 2022 was valued at $936,100. The transaction was recorded March 17.

Susan Bevington paid William Kimberley Development Corp. just over $1 million for property at 6253 Enclave Lane in Johnston, records show. The property includes a recently built single-family house. The transaction was recorded March 17.

Boulder Ridge LLC, located in Clive, paid Highway 163 Partners LLC $1 million for property at 5905 Morning Star Court in Pleasant Hill, records show. The 8-acre parcel is undeveloped. The transaction was recorded March 17.

Notable Transactions is a CRE feature that provides information about real estate transactions from Polk and Dallas counties of $1 million or more including the sale of single-family houses as well as other transactions of interest.

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Kathy A. Bolten

Kathy A. Bolten is a senior staff writer at Business Record. She covers real estate & development, law & government and retail.

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