An Indianapolis-based real estate development company has sold a downtown Des Moines apartment building for $40.75 million, Polk County real estate records show.

District at 6th LLC, developed by TWG Development LLC, sold the 213-unit apartment building at 201 S.E. Sixth St. to District SPE LLC, based in Louisville, Colo.

District SPE LLC is managed by Four Mile Capital, a privately owned real estate investment firm. According to its website, Four Mile Capital focuses on the "acquisition and sponsorship of exceptional middle-market multifamily opportunities."

Four Mile Capital was established in 2016.

TWG has had several projects in the Des Moines area, including Lillis Lofts, a nearly completed apartment building at 6313 Douglas Ave. in Urbandale.

Construction of the four-story, 220,240-square-foot Des Moines apartment building was competed in 2020. The property is valued at $33 million.

The transaction was recorded Oct. 7.

In other transactions:

KGUrban LLC, based in Coralville, paid CAPO Holdings LLC $7.7 million for property at 11989 Hickman Road in Urbandale, records show. The 2.3-acre parcel includes a 4,995-square-foot Kum & Go convenience store with fuel pumps. The store was constructed in 2014. The property is valued at $3 million. The transaction was recorded Oct. 4.

Admatter Holdings LLC,
 based in West Des Moines, paid Bailey Holding Co. LLC $620,000 for property at 10110 Dennis Drive in Urbandale, records show. The property includes a 4,800-square-foot office/warehouse constructed in 1976. The property is valued at $540,000. The transaction was recorded Oct. 4.

Roddy Mac, Nancy Mac and Wilkinson Family Trust, all based in Quincy, Calif., paid Golden Diamond CT LLC and Golden Diamond WN LLC $1.45 million for property at 1530 E. Euclid Ave. in Des Moines, records show. The property includes a 9,608-square-foot medical office building constructed in 2000. The property is valued at $919,000. The transaction was recorded Oct. 5.

Iowa Natural Heritage Foundation paid the John Speck Trust and Bonnie Schott Trust $500,000 for property at 10728 N.E. Hubbell Road northeast of Bondurant, records show. The nearly 10 acres includes a two-story, 1,724-square-foot house constructed in 1880. Two sheds, a silo, a garage and a metal utility building are also located on the property. The transaction was recorded Oct 5.

GT Holdings LLC, based in Johnston, paid Hy-Vee Inc. $1 million for property at 3455 S.E. Gateway Drive in Grimes, records show. The property includes 2.7 acres of undeveloped ground. The transaction was recorded Oct. 7.

TWAS Properties LLC,
 based in Thomaston, Ga., paid Thomas and Barbara Broderick $1.27 million for property at 11410 Forest Ave. in Clive, records show. The property includes a 4,958-square-foot building occupied by Applebee’s restaurant. The one-story building with brick exterior was constructed in 1993. The property is valued at $924,000. The transaction was recorded Oct. 8.
A Newport Beach, Calif., group – Arlington Apartments LLC  purchased property at 1805 Arlington Ave. in Des Moines, records show. The group purchased the property from Carroll-based Arlington Heights Apartments LLC. The apartment complex includes three three-level buildings, each with 12 units. The buildings, constructed in 1968, are described as being in "below normal" condition on the Polk County assessor’s website. The property is valued at $919,000. The transaction was recorded Oct. 8.

North Valley Apartments LLC, located in Urbandale, paid Tuvela LLC $1.6 million for an apartment building at 920 Meadow Lane in Des Moines, records show. The transaction also included adjacent vacant ground. The 12-unit building was constructed in 1972. The property is valued at $1.35 million. The transaction was recorded Oct. 8.

Webster City MHC LC, based in Grimes, paid Tri-Point Holdings LLC $4.2 million for property at 651 N.E. Venture Drive in Waukee, Dallas County real estate records show. The nearly 1.5-acre parcel includes a 10,199-square-foot neighborhood center constructed in 2019. The property is valued at $1.56 million. The transaction was recorded Oct. 8.

Drake Companies LLC, based in West Des Moines, paid Mill Ridge Homes LLC $978,370 for 10 residential lots located in West Des Moines, records show. The addresses of the vacant lots are 1290, 1316 and 1354 S. Radley St. and 1277,1282. 1285, 1334, 1341, 1360 and 1375 S. 92nd St. The transaction was recorded Oct. 5.

Long Dirt Investments LLC, based in Clive, paid Pro-Line Development II LLC $1.6 million for property at 1034, 1038, 1042 and 1046 S.E. Frontier Ave. in Waukee, records show. Included on the properties, which total about 1.7 aces, is a 2,400-square-foot warehouse built in 2020. The transaction was recorded Oct. 5.

Hope K Farms LLC, based in West Des Moines, paid Callan Farms LLC $1.86 million for 149 acres of farm ground located southeast of Woodward, records show. The ground is north of 160th Street and west of Upland Avenue. The transaction was recorded Oct. 7.

Waukee Crossing LLC, located in Burlington, paid Philip Broderick LLC and Charlotte Broderick LLC $2.89 million for 9.48 acres located north of Hickman Road and west of Northwest Second Street in Waukee, records show. The undeveloped property is classified commercial. The transaction was recorded Oct. 7.

 

The real estate transactions from Polk and Dallas counties include information about transactions of $1 million or more including the sale of single-family houses as well as other transactions of interest.