Steadfast Income REIT, Inc., based out of Irvine, California, recently purchased 147 units in the Park Place Apartments in downtown Des Moines, Iowa. Park Place was built in 1986 and is a 16-story high-rise building located at 615 Park Street in the middle of the city’s business district.
Steadfast Income REIT is a real estate investment company that purchases and manages properties in the U.S. and Mexico. Park Place Apartments has 158 units, 11 of which are privately owned and were not included in the real estate transaction with Steadfast. The transaction was financed with proceeds earned by Steadfast in their recent public offering.
CEO and President of Steadfast Income REIT Rodney F. Emery said of the purchase, “We feel that the favorable aquisition terms negotiated by the REIT coupled with the property’s many attributes position it to produce immediate income. Additionally, Steadfast Management Company will manage the property and will seek opportunities to strategically add value as part of the overall asset stratgey”.
If you have questions about negotiating a real estate transaction, contact the Des Moines real estate litigation attorneys of LaMarca Law Group, P.C. at (877) 327-2600 today to learn more about real estate law.
Several months after a salmonella outbreak at several Iowa egg farms, the farms have been given permission to return their products to retail stores. The outbreak of salmonella resulted in a recall of millions of eggs from retail store across the country and was considered the worst case of salmonella in the history of the country.
After investigators traced the bacteria to the Iowa egg farms, officials found that most farms were not following all the standard regulations related to the handling and farming of eggs. Chickens had become infected with salmonella from improperly stored feed. The outbreak was taken very seriously by the U.S. Food and Drug Administration as salmonella can be fatal for infants and the elderly.
Upon further review, the FDA recently determined that the Iowa farms had taken the necessary steps to correct their mistakes and now properly follow industry regulations.
Agribusinesses are subject to several laws and regulations just like any other business. Contact the Des Moines agribusiness lawyers of LaMarca Law Group, P.C. at (877) 327-2600 today to set up an appointment to talk with one of our experienced business law attorneys.
Exelon, one of the nation’s largest utilities providers, recently purchased John Deere Renewables. Exelon has approximately 5.4 million customers and generates around $17 billion of revenue every year.
John Deere Renewables can provide 735 megawatts of clean wind energy to nearly 220,000 homes. Under Exelon, John Deere Renewables will change its name to Exelon Wind and will involve 36 wind energy projects in 8 states.
Exelon CEO and chairman John W. Rowe called the purchase “an economically sound transaction that adds value for shareholders”. In addition, Rowe noted that the purchase will help Exelon to reach its goal of reducing its carbon footprint by 2020.
If you are looking to purchase or sell a business and would like to speak with an experienced business law attorney, contact the business sale and purchase lawyers of LaMarca Law Group, P.C. at (877) 327-2600 today to set up an appointment.
An Iowa developer recently sued Kimberling City, Missouri claiming that officials from the city have held up projects to be completed in the city. Signature Holding Co. of Bettendorf, Iowa filed suit against the city, its mayor and other specified officials in the U.S. District Court in Davenport and seeks $14.5 million worth of damages.
According to court documents, Signature Holding Co. was set to begin two real estate development projects in Kimberling in 2003, Cottage Row and the Fischer Creek Inn and Country Club. In 2006, after a new mayor and city council were elected, Singnature Holding Co. alleges that they began to take steps which prevented them from continuing development plans.
Specifically, the suit claims that between 2006 and 2009 the mayor and city representatives failed to hold timely meetings, spread untrue information about the development company and two times withdrew formal contract with the company.
To discuss options concerning business litigation, contact the experienced Des Moines business transaction attorneys of LaMarca Law Group, P.C. at (877) 327-2600 today.
Earlier this month, Casey’s General Stores announced the purchase of 44 Kalbredlo’s locations. The company signed an asset purchase agreement to acquire 22 Kalbredlo’s stores in Nebraska, 21 in Kansas and 1 in Oklahoma.
The Iowa-based convenience store will convert all Kabredlo’s locations into Casey’s General Stores. President and CEO of Casey’s, Robert Myers, stated, “The acquisition of the Kabredlo’s locations is an excellent fit to our existing store base and will add to our presence in Nebraska and Kansas as well as allow us to penetrate a new state”.
Company executives report that they expect transactions between the two businesses to end in December. To officially end transactions, both companies are waiting for receipts of inspection and other regulatory approvals.
If you own a businesses and are considering selling your business or purchasing another business, contact the Des Moines business sale and purchase lawyers of LaMarca Law Group, P.C. at (877) 327-2600 to set up an appointment to discuss your options.
This week, an Iowa judge approved a construction contract presented by a Chicago construction company for the building of a new maximum-security prison to be build outside of Fort Madison. The judge upheld a previous decision from the state to allow a $116.9 million contract with Walsh Construction.
Walsh Construction’s contract came under question from an Des Moines construction company, the Weitz Co., and a construction trade company, Master Builders of Iowa. The two companies accused Walsh Construction of turning in incorrect bidding forms when establishing its contract.
Officials have not said whether or not the Iowa construction companies will once again appeal the decision. Construction on the prison is currently scheduled to end in the summer of 2013.
Contact the Des Moines construction litigation attorneys of LaMarca Law Group, P.C. at (877) 327-2600 if you have questions about any legal matters concerning construction and construction contracts.
The Des Moines publisher, Perfection Learning, recently purchased another publishing company out of Seattle, Oregon. Perfection Learning publishes language arts text books and materials for kindergarten through 12th grade classes.
The company announced on Monday that they had signed a deal to purchase Seattle-based Kinetic Books. Kinetic Books publishes digital science and math textbooks. Company executives have not released details or the price of the sale.
Both companies had been in negotiations over the sale for some time. Purchasing a business requires significant planning and agreement over several details between companies. Contact the Des Moines business sale and purchase lawyers of LaMarca Law Group, P.C. at (877) 327-2600 to learn more about the legal process of purchasing a business.
Business litigation occurs when a business dispute arises and it can not be resolved through negotiation. Business litigation occurs when a person or business entity has a legal issue with another business entity.
Infringement on a patent, intellectual property, and copyright are all examples of a situation where business litigation may be needed. Concerns with finances, such as unethical broker behavior, and investments are also legal issues that arise that can be very complicated to work through.
If a dispute has occurred between you and another business entity, you need experienced representation on your side during this difficult time. Contact the Des Moines business litigation lawyers of LaMarca Law Group, P.C., by calling (877) 327-2600 today.
Green Plains Renewable Energy, Inc. has announced that it plans to sell a large portion of its Convertible Senior Notes.
The interest rates, conversion rates and offering price have not been determined and will be negotiated between the company and the purchasers.
The proceeds from this sale will be used for general corporate purchases or possible a short-term investment grade. Green Plains Renewable Energy, Inc. is the country’s fourth largest ethanol producer with an operating capacity of almost 657 million gallons.
If you or a loved one is considering selling your company, you need experienced representation on your side. Contact the Des Moines sale and purchase lawyers of LaMarca Law Group, P.C. by calling (877) 327-2600 today.
A dispute between Cablevision and News Corp., the owner of Fox 5 television station, has created a stir because of the loss of the Fox 5 and My9 programming from their cable list.
On Sunday, many people who wanted to watch the football games were forced out of their home and into local bars because they no longer have access to that station.
Customers who receive cable in that area do not want their rates to go up so they are forced to leave their home and watch games and other programs on the station somewhere else. Politicians are now stepping in to try and resolve the issue and work on a new negotiation.
If you or a loved one are in the middle of a business dispute, contact the Des Moines business dispute lawyers of LaMarca Law Group, P.C., by calling (877) 327-2600 today.
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