KNAPP SHAPES EMPIRE
Latest Realty Firm is One of Area's Most Powerful

Many thought William Knapp was quietly exiting Iowa's real estate scene earlier this decade.

In 1984 at age 58, Knapp sold Iowa Realty, the company he bought in 1952 and then built into the state's largest brokerage. In 1992 at age 66, he formed a company management of his own real estate holdings and turned daily duties over to a son-in-law. In 1995, at age 70, he stepped down as chairman of Iowa Realty.

Today, at age 73, after 46 years in the business (43 of them operating his own brokerage), who could expect him to keep up the pace? Not even Knapp expected that much, but that's how it's turning out.

In the past seven years, Knapp and his top executives have used his personal holding company, Knapp Properties Inc., to establish a new real estate empire - a development and management company that has come to be one of the largest and most powerful in central Iowa.

"Des Moines and its surrounding communities have grown more than we anticipated. There's something going on everywhere, and we've owned land all over, so we've been in a good position to be involved in development," said Knapp.

"One of the things that has helped us, we did buy land in areas that are developing. There is no area around Des Moines where we don't own land. That helps in development, when you control the land," he said.

Knapp's holdings in 1992 included land, commercial buildings, hotels, apartments and condominium conversions, "so we had a substantial base to work from," said Gerry Neugent, president of Knapp Properties.

We have made a lot of acquisitions in the last four years, over 300 acres in Grimes, the Metro East Business Park site in Pleasant Hill and land for residential developments," said Neugent, "but the key thing is, Bill had a large inventory when the company was formed."

With additions to that inventory, the company now owns key pieces of development property in every corner of the metropolitan area, from Grimes, Polk City, Ankeny, Altoona and Pleasant Hill on the north and east, to Waukee, West Des Moines, Norwalk, and Des Moines on the west and south.

When Knapp Properties was formed seven years ago, the announcement indicated the company would do little more than manage Knapp's restaurants, hotels, apartments, office buildings and land. That alone would have been a substantial task.

Just nine months after Knapp Properties was formed, however, son-in law Mark Haviland resigned as president. Knapp, the company's chairman, assumed daily management duties as well, until October, 1993, when he named Neugent president.

Few people commanded as much of Knapp's trust and respect as Neugent, a real estate lawyer who had personally represented Knapp and Iowa Realty for 14 years.

Knapp had equal confidence in his nephew and vice chairman, William Knapp II, a real estate veteran who had been senior vice president and general counsel for Iowa Realty, president of Iowa Realty Commercial and president of AmerUs Properties Inc.

Neugent and Knapp II, the son of Knapp's brother, Paul, became the company's key managers.

"When Gerry and Bill came on board, we expanded into the development business. We're continuing because Bill and Gerry have been with Iowa Realty, AmerUs and Knapp Properties for years. I think we have the two best development and management people in the state," said the founder.

Once again, it appears the elder Knapp is quietly exiting Iowa's real estate scene. Knapp II was named Knapp Properties chairman last July. Knapp is now chairman emeritus

"I don't have to be that involved now. If you stay and control too much, you don't let your managers grow," said Knapp.

Knapp II added, "We still rely on Bill's vision and strategic planning."

Knapp said he is pleased with the company's success, but he is just as pleased with Knapp II's and Neugent's community involvement.

Knapp II serves on the boards of the Iowa Housing Corp., Good Samaritan Urban Ministries, the Des Moines Neighborhood Revitalization Board, and is president of Des Moines Neighborhood Development Corp. Neugent serves on boards of Door of Faith Mission, Good Samaritan Urban Ministries, the Drake Law School Endowment Trust, and is past president of Des Moines Community Playhouse.

"These two fellows, they're carrying on the traditions that Paul and I always had," Knapp said. "They're involved in the community. I want the company to make money, sure, but I also want it to make a difference in the community."

"If we can do something for the community, we feel just as good about that as we do for Knapp Properties. You can accumulate and be one of the wealthiest people in Iowa. If you don't give back and you're not involved in the community, you'll die a lonely person. People need to give back with their time and money."

Odds are, Knapp will continue to be involved in the business and public arenas with both his time and money. He said he is winding down a little, spending more time relaxing and enjoying life.

"I've never been happier, and I've never been more confident with my business life and my personal life, and a lot of that has to do with these two fellows," he said of Knapp II and Neugent. He added with fire in his eyes:, "Development is exciting. Real estate is exciting...It is different every day. It is a challenge...I enjoy this company. This is not like leaving Meredith at 65 and you're done. In owning this company, you have more of an opportunity to continue."

Article from the Des Moines Register November 28th, 1999.

KNAPP BUYS AMERUS BUILDING

Knapp Properties, Inc. on Wednesday purchased the AmerUs Life headquarters building in downtown Des Moines for $5.2 million.

The acquisition is the largest of several recent transactions that signal the company's growing interest in downtown real estate, officials said.

"I think it shows we have a lot of confidence in downtown, with all the things happening - Gateway West, Gateway East, and the arena and convention center," said William Knapp II, the company's chairman.

"There are a lot of balls in the air now, and we think some of them are going to begin to come to fruition. Elected officials in Des Moines seem to be very interested in redevelopment in downtown. Also, 65,000 people work downtown. The large employers have a lot invested in downtown, and they are going to keep pushing to make things happen."

AmerUs Group and its operating companies will remain in the unique limestone structure at Fifth Street and Keosauqua Way and will lease space in the six-story building from Knapp Properties, said Roger Brooks, AmerUs chief executive officer.

"Most financial institutions around the country have come to the conclusion that there are better ways to use their capital than ownership of the buildings they are in. It is better to be a good tenant than an owner," Brooks said. "We plan to be there, so one of the things Knapp Properties is buying is our tenancy."

In addition to the 130,.000 square foot AmerUs building, Knapp Properties of West Des Moines has purchased a downtown building at 12th and Mulberry streets in the city's Gateway West redevelopment area, as well as a building near the AmerUs building and a proposed convention center and arena.

The two buildings each have three floors and about 37,000 square feet. "We just think eight or nine years from now, as Gateway West takes off, its going to be very will situated." Knapp said.

Gerry Neugent, Knapp Properties' president, said the company has made offers for other properties. "We're bullish on downtown."

Article from the Des Moines Register, Thursday December 16th, 1999.