NOTEBOOK: Minnesota developers team up with Des Moines’ Harry Bookey
DARR: The Minnesota investment and development firm that accounts for one of the construction cranes poking above the downtown Des Moines skyline has teamed up with one of the country’s largest real estate management firms on at least two of its projects in Greater Des Moines. And wouldn’t you know, the firm is based in Des Moines. Kent Roers, who founded Roers Investments, said Harry Bookey is an investment partner in the Confluence on Third multifamily project that accounts for one of the construction cranes, this one at roughly Third Avenue and Market Street. Bookey’s BH Management will manage the apartment project, which takes up an entire city block. Roers Investments also is a partner with Bookey in what is now called The Flats at Valley apartments in West Des Moines. Those apartments were known for years as Warren Terrace. Meanwhile, Roers Investments has an option to buy the former China Buffet restaurant at 2301 Ingersoll Ave., raze the building and replace it with a multi-building mixed-use project that will include apartments and retail. Roers Investments also includes Kent’s brother, Brian, and boyhood buddy Jeff Koch. The firm got its start in the residential market following the oil boom in North Dakota and parts of South Dakota. Bookey is no stranger to downtown projects. He saved the Temple for the Performing Arts from the wrecking ball and was a partner with Hubbell Realty Co. in projects on Court Avenue and Fourth Street. BH Management has been identified as one of the largest apartment managers and owners in the country. It is worth mentioning that Denny Elwell Co. once owned China Buffet and sold it to developer Dan Stanbrough.