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Ed Boesen: an estate left in tatters


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The legacy of Ed Boesen is being measured in businesses that ranged from beer on a stick to bridal gowns.

Some have no value, others are struggling to survive and some may have been funded with loans that were obtained through the use of a phony investment account, according to lawsuits and other court proceedings that have followed Boesen’s death in July from an intentional overdose of over-the-counter drugs.

An inventory of 48 companies that Boesen formed or in which he claimed an equity stake found that 28 had no value at the time of his death, according to an inventory filed in Polk County Probate Court.

The following is a partial list of Boesen’s holdings at the time of his death and their status as of Dec. 11:

Residence: 3409 Beaver Ave., Des Moines, transferred to wife, Maureen.

4859 Abbott Drive, Clear Lake, MetaBank holds a cross-collateralized mortgage on the property.

440 S. Gulf View Boulevard, Clearwater, Fla. Bank of the West has filed a lawsuit to enforce a mortgage on the property.

2509 30th St., Des Moines, property was owned with his son. Son now owns the property.

Boesen Chicago LLC. Polk County Associate Probate Judge Ruth Klotz ordered Boesen’s interest transferred to MetaBank and Carl Hayes.

Boesen Clark Investments I LLC. His interest will be transferred to business partner Richard Clark.

Boesen Family Enterprises LLC. Ed Boesen had a one-third interest in the limited liability company, which received $2 million in life insurance proceeds upon his death.

Boesen Florida LLC. Owns no assets, but is being sued by Bank of the West in connection with a property in Clearwater, Fla.

Boesen 42nd Street LLC. Owns property at 1117 42nd St., Des Moines, that will be put up for sale.

Boesen Grand Land Co. LLC. Klotz ordered transfer of the property to First National Bank Midwest. However, the bank is proceeding with a foreclosure action.

Boesen Grand Rapids LLC. Owned flower shops in Grand Rapids, Mich. The shops closed after Boesen’s death and the LLC has no value.

Boesen Grimes LLC. The estate is attempting to determine whether Boesen bought a building in Grimes that is titled to Nils Norland.

Boesen Hickman LLC. Owns a building at 9943 Hickman Road, Urbandale, that is the location of a Boesen the Florist warehouse and other businesses. MetaBank is foreclosing on its mortgage. The estate maintains that the property should be owned by Maureen Boesen free and clear of the bank’s mortgage.

Boesen Ingersoll LLC. No assets.

Boesen Lake LLC. No assets.

Boesen Land Co. LLC. Owns a strip mall at 2629 Beaver Ave., Des Moines, Boesen had a one-third interest in the limited liability company. First American Bank holds the mortgage.

Boesen Marshalltown LLC. Boesen was the sole owner of the LLC, which had an interest in a nine-hole golf course and residential development. The LLC owes First National Bank Omaha $4.5 million, and the bank is negotiating with other members of the golf course ownership group, M’Town Golf LLC.

Boesen Midland LLC. Klotz ordered transfer of properties owned by Boesen’s company to Community State Bank in Ankeny.

Boesen Milwaukee LLC. The estate wants to transfer assets from flower shops or ownership units to MetaBank, which is owed $2.5 million on various collateral.

Lake RR LLC, which has a half-ownership stake in Red Rock Marina LLC. Value is believed to be nothing or very little.

Boesen Omaha LLC. Assets have been sold and $165,000 is being held in escrow by the Whitfield & Eddy PLC law firm, which represents Community State Bank in Ankeny. The estate and the bank will determine ownership of the $165,000.

Boesen Omaha Real Estate LLC. Klotz ordered transfer of property to Freedom Financial Bank, which holds the mortgage. The bank has filed a foreclosure-type action and does not want the deed. Subject to several mechanic’s liens.

Boesen Schaffer’s LLC. Interest transferred to First National Bank Midwest.

Boesen the Florist LLC. Boesen had a one-third ownership stake in the limited liability company. The estate is having an appraisal done on the value of Boesen’s ownership interest.

Boesen 20613 LLC. Owned a Bell Jet Ranger 206 helicopter, which is for sale. Valley Capital Financial of New Jersey holds a security interest in the helicopter. Great Western Bank has sought to obtain an interest in the helicopter, claiming that $50,000 it alleges Boesen obtained through fraud was used in the purchase of the helicopter.

Boesen Windsor Heights LLC. The estate wants to sell three condominium units. The estate owes about $229,000 to First American National Bank; the estate is making mortgage and tax payments.

Boesen Yacht LLC. Klotz ordered a Broward yacht transferred to MetaBank.

BBC Investments LLC. Klotz ordered transfer of a lot in Napa Valley Estates to Community State Bank of Ankeny.

Beaverdale Investments LLC. Owns the real estate where Boesen the Florist operates. The real estate is being appraised, and once that process is completed, the value of Boesen’s interest will be determined.

Brookings Partners LLC. Klotz ordered Boesen’s 51 percent interest transferred to other members of the limited liability company.

DaleBeaver LLC. Owns 3503 49th St., Des Moines. The property is for sale.

EdMarco LLC. The business was formed to patent, manufacture and sell beer-on-a-stick. Holds several thousand sticks, which have little if any value.

Inspired Media Group LLC. No value. 50,000 copies of its first publication are in storage.

Medical Records Storage LLC. Formed to store the medical records of Dr. Peter Boesen, Ed Boesen’s cousin. The limited liability company does own several works of art, which are being appraised.

Metro Area Aviation LLC. Has been transferred to a limited liability company owned by First National Bank Omaha.

Milwaukee Floral Real Estate LLC. No assets.

Triad Property Management LLC, doing business as Praeses LLC. Managed various Boesen properties, but had no assets. Estate wants to transfer Boesen’s membership interest to other partners in the limited liability company.

REL LLC. Owned real estate and restaurant equipment in Ottumwa. The restaurant opened in July 2007 and closed in June, following floods. Owes money to Bank Iowa.

Rice Development Partners LLC. Was developing the former Rice Elementary School property in Beaverdale. No value.

Stam’s Wauwatosa LLC. Owned a chocolate shop in the Milwaukee area. The shop has closed.

Wisconsin Iowa Real Estate Acquisition LLC. No assets.

BBC Investments LLC. Woodland West Condominiums LLC. Klotz wanted Boesen’s interest transferred to Community State Bank, Ankeny. However, the bank is foreclosing on the property and does not want an interest in the LLC.

4016 Davenport St., Omaha, estate has opened an ancillary estate in Nebraska. Polk County Bank claims an interest in the property. Maureen Boesen or the estate might have a superior claim to Polk County Bank.

927 S.W. Ordnance Road, Ankeny. Klotz approved its sale to the city of Ankeny for $290,000. Freedom Financial Bank holds a mortgage for $226,000. Proceeds will be placed in escrow until a foreclosure action by the bank is resolved.

1978 King Air 200 Jet. The jet was sold for $800,000, with proceeds going to Community State Bank, Indianola, and the remainder being held in escrow by the estate.

5445 Mills Civic Parkway, West Des Moines, known as the Harmony Building at West Glen Town Center. Klotz approved its transfer to First American Bank.

2712 Beaver Ave., Des Moines, location of B&B Restaurant. West Bank has a mortgage on the property. The estate has received an offer to sell the restaurant.

Egg Harbor boat, located at the Milwaukee Yacht Club. For sale for more than a year with no offers.

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