A Denver, Colo.-based real estate investment group has purchased a midrise apartment complex at 660 E. Fifth St. in Des Moines, Polk County estate records show.

Entities managed by VareCo paid $18.65 million for the property, which includes an 11-story apartment building. The building, called the Lyon, includes 125 apartment units, information on the county assessor’s office shows.

The building was constructed in 1997 on a 2.5-acre parcel.

VareCo, which also has operations in Des Moines, purchased the property from a group of investors that includes Paragon Investments LLC, Archangel Development LLC, Christensen Development I LLC, Troy Strawhecker, Theresa Strawhecker and Rizzuti Holdings II LLC.

The property is valued at $11.16 million.

The transaction was recorded Oct. 18.

In other transactions:

CF KL Assets 2109-2 LLC, located in Chicago, paid Gold Star Villas & Townhomes LLC just over $1 million for property at 6907, 6911, 6915 and 6919 Bluebell Court in Johnston, records show. The properties are all two-story townhouses built in 2021. The transaction was recorded Oct. 17.

Twain GL XXXVII LLC, located in St. Louis, paid 737 34th Avenue Carwash RE LLC $1.4 million for property at 737 34th Ave. S.W. in Altoona, records show. The transaction was recorded Oct. 17.

NWT 1458 LLC, located in Houston, paid F&S Rosenberger LLC $1.66 million for nearly 9 acres at 1458 Northridge Circle N.E. in Altoona, records show. The parcel is undeveloped. The transaction was recorded Oct. 19.

William Kimberley Development Corp., located in Ankeny, paid Hope K Farms LLC $1.13 million for 13 undeveloped resident lots in Grimes, records show. The lots are along Northeast 12th Street. The transaction was recorded Oct. 19.

Emma Hsieh paid AHC Ingersoll LLC $995,000 for properties at 526 48th St., 4810 Ingersoll Ave. and surrounding vacant parcels, records show. The property at 526 48th St. includes a two-story, seven-unit apartment building constructed in 1927. The property is valued at $316,000. The property at 4810 Ingersoll Ave. includes a two-story, six-unit apartment building constructed in 1927. The property is valued at $293,000. The transaction was recorded on Oct. 20.

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