RE:RE:RE:NEWS
Lapstick, they get 100% of the development fee's, if they want to take the money and run, they can, or if they want, they can take a % of the project, its up to them, they obviously think that its a good deal to get into them, not only are they putting in the money made from these fee's, when ever they can, and if they think it's a good deal, they will try to increase ownership like they have in most of the projects, granville, pearson, viva, etc. Lets not forget of the management contract that they have with all the projects, 8% of gross, equals big bucks. So someone mentioned about $16 mil works out to a P/E of about 5, that is correct, but thats only on these fee's, without adding the extra's. I personally think the only ones who sell, are the ones who don't understand whats going on here. Figure just on this new super center what does 20% equal when its all done, i think just this alone is worth more than what the share price is at.