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Jackson property sold to California company

By Memphis Business Journal
September 25, 2006

Tennessee Real Estate Holding Co. has sold a 630,000-square-foot building on 60 acres in Jackson, Tenn.
 
The company is an LLC formed by Tomkins/Gates, a manufacturing holding company.
 
The property is located at North Parkway and American Drive in Jackson and has frontage along the L&N rail line.
 
Philadelphia-based Binswanger represented the seller in the transaction.
 
Tower Investments of Woodlands, Calif., purchased the building and plans to retrofit it and subdivide the space for smaller tenants.

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Clinton Library Kicked Off Upturn

By Maura Webber Sadovi - The Wall Street Journal
September 6, 2006

Nearly ten years ago, then-President Bill Clinton chose 27 acres along an industrial stretch of riverfront in Little Rock, Ark., as the improbable site for his future presidential library.  A controversy erupted almost immediately--to the delight of headline writers who noted Clinton's penchant for fast food--over the City's plans to raise the so-called hamburger tax on food and lodging to pay for the parcel.
 
The $165 million Clinton Presidential Center opened in 2004, well after Little Rock officials had scrapped the tax in favor of a bond to fund the purchase of the property. Despite the initial opposition of some residents to the idea that the city would pay for the land, many real-estate experts credit the architectural showpiece designed by James Polshek and Richard Olcott -- part of a complex which includes a park, Oval Office replica and a treasure trove of documents -- with jumpstarting a downtown revitalization in Little Rock.

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Ione Bonds Reach End of Long Road

By California Municipal Bond Advisor
September 1, 2006

As we mentioned the other month, the sale of new bonds was imminent in order to pay off the defaulted Ione CFD No. 1989-1 and 1989-2 Special Tax Bonds (Country Club Estates).  That sale has now closed and holders of the existing bonds that matured on or before October 1, 2005, should have received full payment on their principal and all accrued interest on the August 16 payment date, according to trustee U.S. bank. (If we read the trustee's notice correctly, bonds maturing after that point are defeased until they are called and paid off this Oct. 1.  The bottom line is that you're getting paid off; the trustee can answer your questions if we read that wrong.)

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California Company Brings Big Investment to Rochester Area

By Press Release
August 22, 2006

1350-acre Elk Farm Project to Offer Premiere Residential, Commercial Developments
 
ROCHESTER/PINE ISLAND, MN (Aug. 22, 2006) - Adding to the excitement and economic development growth of the City of Rochester and its surrounding areas, Tower Investments of Woodland, California revealed Tuesday plans for a master planned development project, which will include commercial development, technology park and residential development.
 
Located between Rochester and the Twin Cities off of U.S. Hwy. 52, the 1,350-acre property, known by area residents as the "Elk Farm," will host more than 700 acres of dedicated open area and residential development, 400 acres for commercial zoning and approximately 200 acres reserved for the technology park and other industrial developments.

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Calif. company buys land near Flagship

By Lindsay Whitehurst - The Herald Bulletin
July 29, 2006

They started with something old, but they didn't stop there. This week, Tower Investments bought a piece of the new economy in Anderson.
 
The Sacramento, Calif.-based company bought the old Guide Corp. Plant 9 last year. Last week, they bought 60 acres of farmland near the Flagship Enterprise Center for an undisclosed sum.
 
"We got to know the community and better comfort level for where it was (economically)," Matt Marks, senior vice president at Tower, said. "It seems like it had been hit hard (by job loss) but it's coming out of that."
 
The company plans to develop the property into commercial, office or light industrial space, Marks said. Work should begin in the next six months, depending on market forces. The company will either develop the land itself or sell off parcels to other developers.

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Big River building slated for retrofit

By Christine Buttorff - The City Paper
July 18, 2006

The look of Lower Broadway will soon be changing, and not just with the possible beginning of construction of a Westin hotel that would loom above the street's honkytonks.

Starting this fall, the building housing the Big River Grille and Brewing Works restaurant will be retrofitted with two extra floors and several terraces, providing 28,000 extra square feet of commercial and office space.

Nashville-based Everton Oglesby Architects is handling design work.

Several months ago, California-based real estate investment company Tower Investments LLC purchased the Big River building, located at 111 Broadway, and two other Lower Broad downtown properties.

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'Lay of land' complicates, enhances development

By Courtney Watson - The Tennessean
May 16, 2006

Design of equestrian community takes almost two years
 
LEIPER'S FORK COMMUNITY - More than 500 acres previously owned by Cal Turner Jr. is slated to become an equestrian community known as Beechwood Plantation.
 
Northern California development firm Tower Land Co. has announced plans for a 45-lot development for the Leiper's Fork-area property off Bailey Road.
 
"It's literally taken nearly two years to design this development because of the lay of the land, the beauty of the land and the community," said Alex Marks, Tower Land Co. senior vice president.
 
Marks said Tower was especially attracted to Leiper's Fork because of the unique community there.

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Building boom makes its way to Leipers Fork

By Janel Watson - Nashville Business Journal
May 12, 2006

California-based Tower Land Co. has broken ground on the second of three equestrian communities that will cover a total 1,075 acres in historic Leipers Fork just outside of Franklin.
 
Beechwood Plantation is a 530-acre residential development off Bailey Road. At completion, it will hold a total of 45 homes and include up to eight miles of custom-designed horse trails.
 
Tower Land also has underway a similar 345-acre development dubbed Traceland Estates on Parker Branch Road. A third of its units have been sold and five of the 30 planned homes have been completed.

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Calif. family likes look of region's real estate

By J. Holly Dolloff - Nashville Business Journal
February 3, 2006

A family-owned California investment firm is sinking big bucks into Middle Tennessee, with the purchase of three prime downtown commercial and retail sites and plans to develop a residential community in Leiper's Fork.
 
Tower Investments LLC recently paid $3 million to buy 411 Broadway, the former Heilig-Meyers Furniture store, from BudMark Investments; $2.1 million for 401 Broadway, which houses Merchants restaurant; and an undisclosed sum for 111 Broadway, the building occupied by Big River Grille.
 
And Tower, which owns various types of property around the country, has bought 1,500 acres in Leiper's Fork, with plans for four "equestrian community" developments featuring lots ranging from two to 50 acres.
 
Tower's David Marks says the downtown buying spree was spurred by the company's involvement in Leiper's Fork.

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Binswanger Acquires Two Properties on Behalf of Major Investment Firm

By Atlanta-(Business Wire) Press Release
February 3, 2006

Representing Tower Investments, LLC, Binswanger has negotiated the purchase of a 590,000 sq. ft. facility on 36 acres in Anderson, Ind., and a 314,052 sq. ft. facility on 40 acres in Somerset, Ky. The properties are located at 1305 West 29th Street and at 1278 Highway 461 respectively. The two transactions totaled nearly $2.5 million.
 
Tower Investments LLC is headquartered in Northern California and has diverse real estate holdings throughout North America. The firm is broadening its portfolio with these purchases and planning to retrofit both facilities. The properties will then be available for lease.
 
In addition to the buyer, Binswanger also represented HLI-Kentucky, Inc., former owner of the manufacturing facility in Somerset. Binswanger has handled the disposition of several underutilized properties for this company recently.

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