On June 19, 2012, Tower Properties Co. entered into a real estate contract to purchase a 263 unit apartment complex in Shawnee, Kansas. The purchase price is $25,475,000 and the purchase is expected to close in November, 2012.

Tower Properties Co. declared a dividend of $2,065.00 per share on each of the 4,842 shares of issued and outstanding common stock of the Company, totaling in the aggregate $9,998,730.00, payable to the holders of record of issued and outstanding shares of the common stock of the Company as on April 30, 2012, payable on May 17, 2012.

On April 3, 2012, Tower Properties Company refinanced the loan for the Barkley Building. The original loan had an outstanding balance of $324,716 at April 3, 2012. The company paid off the existing loan on April 3, 2012, paid a prepayment penalty of $12,024 and replaced the original loan with a new $7,000,000, 10-year non-recourse loan (20 year amortization) at 4.75%, with interest only due the first three months that matures on April 1, 2022.