Tower 101 | 175m | 50s | Regency Developments | DER + Associates

What do you think of this project?

  • Total voters
    53
kcantor said:
^
They will get the full value of the uplift either way. Even if it is sold, they will receive the NPV of the site's new cash flows from the purchaser regardless of the method of sale.
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I wonder what the outstanding taxe due are, or what the bank was owed. The bank/city forcing a sale means there is usually a sizeable balance.
 
Yeggy said:
I wonder what the outstanding taxe due are, or what the bank was owed. The bank/city forcing a sale means there is usually a sizeable balance.
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The site is still (as of today) listed for sale “on behalf of the Vendor” at $6,000,000 with no mention of it being a judicial sale listing. This would certainly imply that Regency is still in control and attempting to sell it although there may well be a conditional agreement in place.
 
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kcantor said:
This is so wrong…

If the current potential sale doesn’t close, this is simply gifting the current owner who got us into this mess a lovely windfall after doing so.
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In which case Westrich has done Regency a major favor here.

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kcantor said:
The site is still (as of today) listed for sale “on behalf of the Vendor” at $6,000,000 with no mention of it being a judicial sale listing. This would certainly imply that Regency is still in control and attempting to sell it although there may well be a conditional agreement in place.
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are you talking about the paramount site? I was referring to the paramount site. It most definitely a judicial sale, its right on the for sale sign, unless im mistaken.
 
Yeggy said:
are you talking about the paramount site? I was referring to the paramount site. It most definitely a judicial sale, its right on the for sale sign, unless im mistaken.
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I was referencing the Tower 101 site which is the subject of this thread and the site from which Regency will receive the windfall regardless of what happens with any of their other sites/assets... I know the Paramount site is a receivership sale which, for the record, is not a judicial sale. The processes and time lines - and who controls them - the courts directly or a court appointed receiver - are quite a bit different with a receivership being quite a bit more expensive and typically requiring up-front monies albeit typically yielding better results.
 
ADob said:
Looks like new more permanent looking fencing around the site. Not sure when that went up. Curious what it means...
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Looks like they're not completely done this new fence when I passed by earlier this afternoon. Instead of the standard cyclone fencing, it is a black colored posts and fencing of a similar nature that does look sort of better.
 
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