Colby Properties Inc., the properties’ previous and original owner, developed the retirement center in several phases beginning in 1985.

The transaction was recorded Dec. 20.

Adventureland property sold for $24.4 million

Fesitval Fun Parks LLC, managed by the entity that purchased Adventureland Park and Resort, paid $24.45 million for the Altoona property, Polk County real estate records show. 

Palace Entertainment, headquartered in West Homestead, Pa., announced on Dec. 21 that it had purchased Adventureland Park and Resort, which was founded in 1974 by Jack Krantz.
Palace Entertainment, which is a subsidiary of Madrid, Spain-based Parques Reunidos, operates 24 large entertainment and education venues in the United States. Parques Reunidos operates more than 60 theme parks, zoos, marine parks, water parks and lodging properties around the world.

Adventureland, with more than 50 rides, a water park, a hotel and a campground, had been operated by the Krantz family since the park opened. Jack Krantz died in 2006; Krantz’s children had operated the theme park during the 15 years after their father’s death.

Included in the real estate transaction was the sale of property:

• At 3200 Adventureland Drive, which includes nearly 174 acres; a 185-room hotel, restaurant and conference center; and an amusement park and water park. The property is valued at $23 million.

• At 419, 435 and 443 34th Ave. S.W., all 0.85-acre parcels of undeveloped land south of the park. Each parcel is valued at $132,000.

• At 435 34th Ave. S.W., a 0.85-acre parcel of undeveloped land south of the park valued at $132,000.

• At 416 31st Ave., S.W. a 0.85-acre parcel of undeveloped land south of the park valued at $132,000.

• At 434 31 Ave. S.W., 1.7 acres that include a single-family house. Adventure Lands of America Inc. bought the property in April for $200,000. The parcel is part of the transaction with Palace Entertainment.

• Between Hubbell Avenue and 34th Avenue Southwest. The 9.4 acres of undeveloped ground is west of Adventureland. The property is valued at $12,580.

The transaction was recorded Dec. 22.

In other Polk County transactions:

Jerry’s Homes Inc., located in West Des Moines, paid Deer Creek Inc. $1.63 million for 30 residential lots in Plat 11 of the Crossings at Deer Creek in Ankeny, records show. The lots are roughly located south of Northeast 18th Street and east of Northeast Frisk Drive. The 720-acre development is east of Interstate Highway 35. The transaction was recorded Dec. 20.

LJE Freedom Property LLC, based in Castle Pines, Colo., paid Nguyen Property LLC $1.9 million for property at 1218 and 1224 34th St. in Des Moines, records show. The property at 1224 34th St. includes a two-story, eight-unit apartment building constructed in 1973. The property is valued at $854,000. The property at 1218 34th St. includes a recently completed two-story, eight-unit multifamily structure. A property value of the completed structure is not available. The transaction was recorded Dec. 21.

Perma Place I LLC, based in El Segundo, Calif., paid Silver D Meadow CT LLC $4.7 million for a condominium development located at 2000 Meadow Court in Des Moines, records show. The property includes five two-story buildings, each with 12 units. The property was developed in 2015. The transaction was recorded Dec. 21.

Bettendorf-based Riverpoint Properties LLC paid 500 SW 7th Street LLC, managed by Hubbell Realty Co., $4.3 million for property at 500 S.W. Seventh St. in Des Moines, records show. The 4.7-acre parcel includes a three-story, 95,115-square-foot office building constructed in 1990. The property is valued at $4.26 million. The transaction was recorded Dec. 22.

Signature Real Estate Holdings LLC, based in Urbandale, paid F&S Rosenberger LLC $3.56 million for 27.25 acres of undeveloped land between Adventureland Drive and Interstate Highway 80 in Altoona, records show. The land is west of Hampton Inn & Suites. The transaction was recorded Dec. 22.

Hope K Farms LLC, based in West Des Moines, paid $1.6 million for 40 acres of undeveloped ground between Northeast 22nd Street and Interstate Highway 35 in Elkhart Township north of Ankeny, records show. The property’s sellers include Janet Erb, Robert Erb, Stephen Johnson, Sue Johnson and the Sharon Hackbarth Revocable Trust. The transaction was recorded Dec. 22.

Robert and Laura Wootten paid Lawrence Kirsner Trust $1 million for property at 942 56th St. in Des Moines, records show. The property includes a 3,617-square-foot house built in 1949. The transaction was recorded Dec. 22.

IPE 103 REV 418, located in West Des Moines, paid Herndon Building Venture LLC and Steven Herndon $5.9 million for 73.5 acres of undeveloped ground in Grimes, records show. The farm ground is west of South James Street and about one-half mile north of Southwest 37th Street. The transaction was recorded Dec. 22.

Clive-based PRKG 2018 LLC paid 103/108 LC $2.65 million for property at 108 Third St. in Des Moines, records show. The property includes a three-story, 33,540-square-foot building constructed in 1901. The property is valued at $936,000. The transaction was recorded Dec. 22.

1441 Capitol LLC, located in Waukee, paid EPC LLC $1.3 million for property at 1441 Capitol Ave. in Des Moines, records show. The property includes a three-story, 15,204-square-foot apartment building constructed in 1972. The building has 23 units. The property, which includes one-half acre, is valued at $1 million. The transaction was recorded Dec. 23.

ILG Holdings LLC, located in Ankeny, paid David and Marcia Baumberger $1.25 million for property at 1121 S.E. Lorenz Drive in Ankeny, records show. The property includes nearly 5 acres as well as several metal buildings including a warehouse and an auto repair shop. The property is valued at $1 million. The transaction was recorded Dec. 23.

TWhite Properties LLC, located in Urbandale, paid Obie Bros Urbandale LLC $688,000 for property at 8305 Hickman Road in Urbandale, records show. The 1.8-acre parcel includes a 5,356-square-foot one-story building in which an auto service company is located. The property is valued at $700,000. The transaction was recorded Dec. 23.

Maplewood Farms Urbandale LLC, located in Clive, paid Maplewood Farm LC $1.54 million for 29 acres of undeveloped land east of Northwest 142nd Street and about one-half mile south of Southwest 37th Street in Grimes, records show. The transaction was recorded Dec. 23.