Colorado entity buys three apartment properties in Des Moines

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A limited liability company based in Lakewood, Colo., has acquired three apartment complexes on Des Moines’ south side, Polk County real estate records show.

HMR Pty Owner LLC paid DSM Portfolio I Holdings LLC, located in Frisco, Texas, and MKC Properties Holdings LLC, located in Des Moines, $24.7 million for the properties, records show. The acquisitions include:

southside apartments
Apartment property bought by Colorado entity. Photo courtesy of Polk County Assessor

· The Ridges on 5th Street at 7201 S.E. Fifth St. The 4.7-acre parcel includes three three-story buildings, each with 30 units. The property is valued at $5.3 million.
· Landmark South at 200 Dickman Road. The 10.7-acre parcel includes five three-story brick buildings, each with 30 units. Garages are also included on the property, which is valued at $6.6 million. The property was developed in 1977.
· Willow Park Apartments, whose address is also 200 Dickman Road and includes five three-story brick buildings built on a 10.3-acre parcel. The property, developed in 1977, is valued at $8.3 million.

The transaction was recorded Feb. 22.
In other transactions:

Stella-Jones Corp., based in Pittsburgh, Pa., paid Baldwin Pole and Piling $1 million for property at 1556 N.E. 46th Ave. in Des Moines, records show. The 4.4-acre parcel includes a 4,452-square-foot office-warehouse built in 1972. The property is valued at $700,000. The transaction was recorded Feb. 21.

Jordon Elwell Properties LLC, located in Ankeny, paid Todd and Constance Rueter $2.1 million for property at 3816 100th St. in Urbandale, records show. The property includes a 20,131-square-foot neighborhood shopping center built in 1996. The property is valued at $1.7 million. The transaction was recorded Feb. 21.

301 Oralabor Partners LLC, based in Philadelphia, Pa., paid TruGreen LP $1.5 million for property at 301 Oralabor Road in Ankeny, records show. The property includes a 27,000-square-foot office and warehouse built in 1984. TruGreen, which occupies the building, entered into a lease agreement with the limited liability company. The property is valued at $2.1 million. The transaction was recorded Feb. 22.

Lea Holdings Co. 2 LLC, located in Ankeny, paid For the Kids VIII LLC $2 million for property at 804 S.W. Cherry St. in Ankeny, records show. The 1.5-acre parcel include a 21,120-square-foot metal warehouse constructed in 2016. The property is valued at $1.4 million. The transaction was recorded Feb. 22.

Lea Holdings Co. 2 LLC, located in Ankeny, paid For the Kids IX LLC $2.75 million for property at 801 S.W. Ordnance Road in Ankeny, records show. The property includes an 18,200-square-foot metal warehouse built in 1997. The property is valued at $1.2 million. The transaction was recorded Feb. 22.

Dallas County
SM Assets LLC, located in Urbandale, paid the Five Holdings Inc. $8.64 million for 32 residential lots with recently completed townhomes built on them, Dallas County real estate records show. The lots are in Kettlestone Heights Plat 2, south of Southeast Westown Parkway and west of Southeast Parkview Crossing Drive in Waukee. The transaction was recorded Feb. 21.

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Kathy A. Bolten

Kathy A. Bolten is a senior staff writer at Business Record. She covers real estate and development, workforce development, education, banking and finance, and housing.

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