NOTABLE TRANSACTIONS: Latin King property sold to New Jersey real estate investment trust

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A new JeThe Rsey-based real estate investment trust has purchased property on which the famed Latin King restaurant sits, according to Polk County real estate records.

SCF RC Financing IV LLC paid Latin King RE LLC $2.15 million for the property, located at 2200 Hubbell Ave. in Des Moines (Photo). The 1.7-acre parcel includes the one-story, 8,872-square-foot building in which the historic restaurant is located.

Robert and Amy Tursi acquired Latin King in 1983 from the restaurant’s original owner. Whitney VinZant acquired the now 75-year-old restaurant in June 2021. VinZant, a Kansas City, Mo.-based restaurateur, also owns Fresko Natural Food and Louie’s Wine Dive, both in Des Moines.

SCF RC Funding IV is managed by Essential Properties Real Estate Trust, located in Princeton, NJ The company buys, owns and manages single-tenant properties that are net-leased to middle-market businesses, according to its website. Essential Properties has 19 locations in Iowa.

The Hubbell Avenue property is valued at $714,000. The transaction was recorded on July 27.

In other real estate transactions:

Kentfield Properties LLC Series PS 4810 86e, based in St. Charles, paid $1.3 million to Cobb Farms LLC for property at 4810 86th St. in Urbandale, records show. The 1.1 acre parcel includes a 4,968 square foot one-story building built in 2003. The building is occupied by the Beerhouse. The property is valued at $714,000. The transaction was recorded on July 26.

1444 Illinois LLC, situated at Des Moines, paid CHBT Property Holding LLC just over $1 million for property at 1444 Illinois St. in Des Moines (Photo), records show. The property includes a 12,285 square foot one-story light industrial building built in 1979. The property is valued at $435,000. 1444 Illinois LLC is related to Franzenburg centrifuge, which focuses on juicer sales and rebuilds, according to the company’s website. Franzenburg Centrifuge has a 60,000 square foot facility at 2301 Dean Ave. The transaction was recorded on July 25.

TC Accommodator 276 LLC, located in Johnston, paid Tierney & Moeller Properties LLC $1.2 million for a property at 5500 West Parkway in Johnston, records show. The property includes a one-story, 10,240 square foot office building built in 2008. The property is valued at just over $1 million. The transaction was recorded on July 28.

Dallas County

IPE1031 Rev436, located in West Des Moines, paid $1 million to Ashworth Apartments I LLC for property at 3293 Ashworth Road in Waukee, Dallas County Real Estate Records. The 9.75 acre plot includes a single family home built in 1925. The property is valued at $292,020. The transaction was recorded on July 26.

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