RE:RE:RE:RE:RE:Sage Ranch shneps wrote: The fact that in the last webinar, with Ronnie Strasser, there was absolutely no mention that the Strasser's (Phantom Developments) were behind the offer.
The offer had more layers of outs then anything I have seen before.
Give them a call and ask.
My question would be more as to why they didn't accept the offer.
Shneps, the June 29, 2022 press release was quite clear about who made the 62 million USD offer:
The offer was received today from Phantom Developments Limited of Toronto, Canada. (www.phantom.ca). The offer letter states in exact words verbatim:
"Please find enclosed an Offer to Purchase for the subject noted property from Phantom Developments Limited ("Phantom"), along with a comfort letter from CIBC demonstrating Phantom's financial capability.
A week later, the July 7, 2022 press release made it quite clear that GRB finds a 62 million offer too low:
A buyer for Sage Ranch at US $62 million, leaves US $158 million in potential lost NPV plus upside on increased valuations over the next six (6) years on a standard construction sales schedule or increased values on the cap rate from 995 home rentals over a 25 year period, with additional terminal values.
There you have your 'who's behind' and 'why they didn't accept'.