A 223-unit multifamily complex in West Des Moines has been acquired for $32.78 million by a California real estate investment corporation, Polk County real estate records show.

Canyon View Capital, based in Santa Cruz, Calif., acquired PointeWest Apartment Homes at 4501 Pleasant St. from Capreit Inc. in Maryland.

The acquisition is Canyon View Capital’s first in Iowa. The company’s portfolio, valued at over $1 billion, is in Kansas, Missouri, Oklahoma and Arkansas, according to its website.

“PointeWest generated strong investor interest given its prominent West Des Moines location and unrivaled amenity package,” Cy Fox of CBRE Group Inc.’s West Des Moines office said in a news release. Fox, along with Ray Hamilton, Keith Collins and Danny Baker represented seller Capreit Inc.

“This sale demonstrates another example of the large number of multifamily investors from across the country interested in acquiring assets in the greater Des Moines region,” Fox said.

The three-story apartment building was constructed in 1989 on just over 12 acres. Units include one-, two- and three-bedroom floor plans. The average unit size is 904 square feet, according to the release. Some units include fireplaces.

Complex amenities include underground parking, an indoor and outdoor pool, sauna, pickleball courts, fitness center, dog park and indoor basketball court.

The property is valued at $25.7 million. The transaction was recorded July 22.

In other transactions:

Tyson Lamb paid Margo Castillo $1.27 million for property at 7585 N.E. Bluff Drive in Bondurant, records show. The nearly 2-acre parcel includes a two-story house, built in 2001. The transaction was recorded July 22.

TJL Investments LLC, located in Clive, paid the estate of William Cole $1.1 million for property at 116 and 124 34th Ave. S.W. in Altoona, records show. The nearly 6-acre parcel at 116 34th Ave. S.W. includes a house, garage and several small industrial buildings. The property is valued at $527,000. The property at 124 34th Ave. S.W. include a 1,330-square-foot house built in 1929. The property is valued at $142,400. The transaction was recorded July 22.

Calia Capital LLC, located in Ankeny, paid American Inn LLC $2 million for property at 5626 Douglas Ave. in Des Moines, records show. The property, occupied by American Inn & Suites, includes a two-story hotel/motel built in 1970. The structure, described by the county assessor as in below normal condition, includes 49 units. The property is valued at $1.34 million. The transaction was recorded July 22.

DCJ Altoona Farm LLC, located in Ankeny, paid TJL Investments LLC and DNF LLC $1.5 million for farm ground about one-half mile west of Northwest Weigel Drive and north of Northwest 18th Street in Ankeny, records show. The transaction was recorded July 23.

Aslan Real Estate Holdings LLC, located in Des Moines, paid Dynamite Ventures LLC $2.67 million for property at 1951 N. James St. in Grimes, records show. The nearly 1-acre parcel includes a three-story, 18-unit apartment building constructed in 2014. The property is valued at over $2.1 million. The transaction was recorded July 26.

Dallas County
Knuth Land Co., located in Woodward, has acquired over 200 acres of mostly agricultural land in rural Dallas County, real estate records show. The group paid Croft Enterprises Inc Farm $2.4 million for over 170 acres north of 160th Street and about one-fourth of a mile east of N Avenue. A small portion of the land includes a wooded area. Knuth Land also paid Croft Farm Enterprises $983,500 for 37.25 acres located land north of 150th Street and east of Odesa Place. Both transactions were recorded July 25. In a related transaction, the Michael Hansen and Stephanie Hansen revocable trusts also acquired Dallas County farmland from Croft Farm Enterprises Inc. The more than 140 aces, which was acquired for over $1.8 million, is of south 150th Street and about one-fourth of a mile east of N Avenue. The transaction was recorded July 25.

Midwest Oilseeds Inc., located in Adel, paid Knuth Land Co. $2.6 million for about 175 acres of farmland in rural Dallas County, records show. The property is west of El Paso Avenue and north of 270th Street. The transaction was recorded July 23.

Amanda and Brian Sedars paid KRM Development LLC $1.99 million for property at 4623 178th St. in Urbandale, records show. The property includes a 3,928-square-foot house whose construction was recently completed. The transaction was recorded July 25.

The Waukee school district paid Marco Properties LLC $3.8 million for 17.5 acres south of Southeast University Avenue and about one-fourth of a mile west of Grand Prairie Parkway in Waukee, records show. Waukee school officials did not respond to requests for comment about the purchase. In November, voters in the Waukee school district approved a $180 million general obligation bond referendum whose projects included the addition of a 12th elementary school. The transaction was recorded July 25.

William Kimberley Development Corp., located in Ankeny, paid Cloud 9 Holdings LLC $1 million for four residential lots in Biltmore Plat in Urbandale, records show. The plat is north of Meredith Drive. The transaction was recorded July 22.

Joshua and Laryssa Madsen paid SJ Home Builders LLC $1.1 million for property at 785 Canterbury Circle in Waukee, records show. Construction of the 2,196-square-foot house was recently completed. The transaction was recorded July 22.