Principal real estate unit buys Colorado offices

Principal real estate unit buys Colorado offices

Principal Real Estate Investors has acquired three office buildings within the Denver Tech Center, a premier suburban office park in Colorado.

The three buildings, One DTC, Crescent V and Crescent VI, are off Belleview Avenue with access to nearby highways.

Principal Real Estate Investors, a unit of Des Moines-based financial services company Principal Financial Group Inc., is the fourth-largest institutional real estate manager in the United States based on tax-exempt assets under management. It manages or subadvises $40 billion in commercial real estate assets.

Heartland Financial reports flat earnings

Heartland Financial USA Inc. reported flat earnings for the second quarter that ended June 30. Net income of $6.2million, or 37 cents per diluted share, was the same as the year-ago period for the Dubuque-based regional operator of banks.

Income from continuing operations was $4.6million during the second quarter, compared with $6million in 2006. The decrease in earnings from continuing operations primarily resulted from a higher provision for loan losses, which was $4.3million compared with $1.5million. Heartland said this increase was partially because of a charge-off of $1.6million on one credit at Galena State Bank in Illinois.

Auto dealers seek pieces of their past

The Iowa Automobile Dealers Association is preparing a book on its history, and is looking for old photos and memorabilia from Iowa dealerships of the past.

The association, founded in 1919, is interested in items such as photographs, print materials, signs, old manuals and memories that could be used in preparing the book.

For more information, contact Mary Cason at Iowa Automobile Dealers Association, 1111 Office Park Road, West Des Moines, IA 50265, or call (800) 869-1900.

Freese-Notis buys Ankeny Web business

Des Moines-based Freese-Notis has purchased Captain Jack Communications, a Web hosting and design service.

The Ankeny business was owned by Bill Dennis, who became known as Captain Jack when he did radio and TV traffic reports in the Des Moines area. Dennis is retiring.

Freese-Notis operations include Freese-Notis Weather and Freese-Notis Global Internet, the second-oldest Internet service provider in Iowa.

D.M. nutritional maker sues Indian company

Kemin Industries, a Des Moines-based maker of nutritional ingredients, has filed a patent infringement suit against an Indian company.

The lawsuit accuses OmniActive Health Technologies Inc. of importing into the United States a form of lutein, a nutritional ingredient, in violation of Kemin’s patent rights on methods of purifying the substance.

The Des Moines Register

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