If you remember we wondered what the current situation with Walters was going to mean for Whiteline Lofts, we wanted to know if Whiteline Lofts would have anything happen due to their partners woes.

Walters has made the news again, this time in the Des Moines Register. Maybe, like what happened at Pinnacle, someone will buy Walters position at Whiteline Lofts…….

Shane Madison is spreading the word that he’s now the majority owner of Pinnacle Construction Group, as trouble piles up for developers Randy Walters and John C. Kline.

Madison started the business in July 2005 with Kline and Walters as investors. Three lenders are seeking to foreclose on local projects by Oaks Development, owned by Kline and Walters.

Madison says he bought out Walters in August and now owns 67 percent of Pinnacle, while Kline still owns 33 percent. He says the two were only silent partners. Pinnacle is also moving from a building on Grand Avenue in West Des Moines that Oaks owns and into space in Urbandale. Madison said the support of Kline and Walters was critical, but it’s time for Pinnacle to make strides on its own.

What do you think? Will Walters woes haunt Whiteline Lofts? What about the other downtown projects Walters was working on? Is it safe to assume that they are off the table as well?