Business
Real Estate Contract for Purchase of an Apartment Complex and Contracts for Purchase of 100 Percent Membership Interests in Three LLC'S
Real Estate Contract for Purchase of an Apartment Complex and Contracts for Purchase of 100 Percent Membership Interests in Three LLC'S.
About this update from Tower Properties Company
[{"type":"text","content":"On April 14, 2011, the Company entered into a real estate contract to purchase a 51 unit apartment complex in Lawrence, Kansas. The purchase price is $2,300,000 and the purchase is expected to close in June 2011.On April 14, 2011, the Company entered into three separate contracts to purchase 100 % of the membership interests of three separate Limited Liability Companies (LLC’s). Each of the three LLC’s exclusive business is the ownership of a single apartment complex in Lawrence, Kansas. In total, the three LLC’s own 408 apartment units. The total purchase price for the three LLC’s is $41,200,000 and each purchase is expected to close in June 2011.","length":1262,"tagName":"div"}]