Artisan Capital Group and Eastham Capital have acquired Wakonda Village, a multifamily complex at 1800 and 1810 Watrous Ave. in Des Moines, the groups announced.

The entities, through Wakonda Owner LP, paid Wakonda Village Apartments Propco LLC $22.7 million for the property that includes 382 apartment units, Polk County real estate transactions show.

The acquisition is part of Artisan’s expansion in the Des Moines market and is aimed at diversifying its investment portfolio in Des Moines and surrounding communities, according to a news release.

Wakonda Village (pictured) is just south of the Wakonda Country Club.

Capital projects at Wakonda Village will include apartment unit upgrades and a comprehensive range of site and interior improvements, covering upgrades to parking lots, sidewalks, landscaping and hallway paint/carpet updates, according to the release. Also planned are pickleball courts and grill stations.

“Wakonda Village aligns with our strategy of unlocking value in key markets,” Sean Fogarty, a partner at Artisan Capital Group, said in a prepared statement. “We look forward to implementing strategic renovations and capital improvements that will elevate the community and generate long-term value.”

West Bank, located in West Des Moines, provided financing for the investment.

Chicago-based Artisan Capital Group’s management arm will oversee operations at Wakonda Village. Artisan Capital Group, which has a regional office in Des Moines, is a real estate investment firm that owns and manages market-rate multifamily and student housing in six states. Since its formation in 2017, the group has grown its portfolio to over 6,500 apartment units.

The property at 1810 Watrous Ave. is valued at $7 million. The property at 1800 Watrous Ave. is valued at $14 million. The transaction was recorded Dec. 26.

In other transactions:

Lil P Bub LLC, located in Altoona, paid Guidos Building Co LLC $700,000 for property at 320 Eighth St. S.E. in Altoona, records show. The property includes a 3,750-square-foot office/warehouse built in 1989. The property is valued at $558,000. The transaction was recorded Dec. 18.

The Katherine Waller Revocable Trust paid the Andrea Westmeyer Revocable Trust $3.4 million for property at 10119 Bella Strada Lane in Johnston, records show. The 1.5-acre parcel includes a 3,847-square-foot house built in 2017. The transaction was recorded Dec. 19.

LSS28 LLC, located in West Des Moines, paid Philip and Cynthia Watson $2.5 million for property at 1905 S. 14th St. in Polk City, records show. The 4.5-acre parcel includes a mini warehouse with 50,000 square feet of space. The warehouse was built in 2008. The property is valued at $1.5 million. The transaction was recorded Dec. 20.

NH1 Properties A LLC, located in Florida, paid Southtown Terrace LLC $1.3 million for property at 701 Loomis Ave. in Des Moines, records show. The 1.5-acre parcel includes three two-story apartment buildings built in 1967. The buildings each include eight apartments. The property is valued at $1.1 million.

The city of Des Moines has completed its purchase of the former Nationwide Mutual Insurance Co. office building at 1200 Locust St. on the west side of downtown, records show. The city paid Nationwide $30 million for the property, which includes a five-story, 371,920-square-foot office building constructed in 2007. The purchase also includes the acquisition of an adjacent parking garage. The City Council in September 2022 approved buying the properties. The purchase allows the city to consolidate offices spread among five buildings, officials have said. The purchase of the former Nationwide office building is expected to eventually lead to the closure of two city buildings, the police headquarters and the Argonne Armory. The transaction was recorded Dec. 21.

Kate Lyon and Courtney Reyes paid Burch and Rachelle Laprade $1.1 million for property at 2834 Forest Drive in Des Moines, records show. The two-story, 4,164-square-foot house was built in 1898. The transaction was recorded Dec. 26.

CSA, located in Des Moines, paid MDM Equity 2010 LLC $1.87 million for property at 1516 Valley West Drive in West Des Moines, records show. The 2-acre parcel include a 20,212-square-foot office building bult in 1986. The property is valued at $2.6 million. The transaction was recorded Dec. 26.

MWF Investing LLC, located in Costa Mesa, Calif., paid Motel Relax LLC $1.9 million for property at 7652 Hickman Road in Urbandale, records show. The 2.6-acre parcel includes a 22,189-square-foot hotel/motel built in 1963. The property is valued at $1.3 million. The transaction was recorded Dec. 26.

Martin and Rochelle Brody paid Grand Oakcrest Townhomes LLC $1.7 million for property at 516 40th St. in Des Moines, records show. The property includes a recently constructed townhouse. The transaction was recorded Dec. 28.

Dallas County
Chance and McKenna Dullard paid Jason and Sheiry Slycord just over $1 million for property at 29929 Puckerbrush Road in Adel, Dallas County real estate records show. The nearly 10-acre parcel includes a 2,598-square-foot house that was built in 2011. The transaction was recorded Dec. 18.

The Woodward-Granger Community School District paid Dale Finestead $1.76 million for nearly 50 acres of farm ground north of Granger between Xavier Avenue/Sycamore Street and Northwest 142nd Street, records show. The transaction was recorded Dec. 21.

Unleashed Pets Holdco LLC paid DSDH Waukee LLC $610,327 for nearly 1.5 acres at 970 S.E. Brick Drive in Waukee, records show. The commercial property is undeveloped. Unleased Pets Holdco, owned and managed by Kerri-Ann Harrison, plans on building a 5,970-square-foot facility for a dog boarding, grooming and day care facility on the site. Unleashed Pets will include a 3,500-square-foot outdoor play area for dogs and an area for dog owners to buy a beverage and play with their pets. Waukee’s Planning and Zoning Commission and City Council approved the project’s site plan in July. The transaction was recorded Dec. 22.

The Knolls LC, located in West Des Moines, paid Boji Holdings LLC $7.5 million for 18 properties with single townhomes on them in Urbandale, records show. The properties are located from 14303 to 144440 Holcomb Ave. The transaction was recorded Dec. 22.