HLD Land Development Limited Partnership Units V.HLD.UN

Comments Anyone?

[HLDalongtime]

Any comments on the major new development with HLD?

[JungleB]

I think it is a positive thing that Michael Thornton is confident enough in this venture to continue to invest more of his own money into it. By my calculations, he is offering pretty close to "appraised value" of the land, which I think is undervalued. This encourages me to continue to hang in there for a per share target price of at least $4.00 (less any distributions, of course)

[whognu]

jungle b i may be incorrect, yet i think the offer on the table is for mr t and the other two fellows to buy all the existing shares for $1.02 each. if 2/3rds vote to accept the offer then the remaining shareholders will have to tender. then the three of them will own the property outright - there will be no shareholders, we will be 'cashed out' so i think (again, unless i have

[JungleB]

Thanks for the heads-up you guys. Maybe I was over optimistic. I am hoping that the third choice for the limited partners under the terms of the transaction, as stated in the NR: "any combination of the foregoing as they may so choose" leaves the door open for those of us who want to stay in to do so. We were told at the time we got in that they wanted "Patient Money

[JungleB]

Thanks for the heads-up you guys. Maybe I was over optimistic. I am hoping that the third choice for the limited partners under the terms of the transaction, as stated in the NR: "any combination of the foregoing as they may so choose" leaves the door open for those of us who want to stay in to do so. We were told at the time we got in that they wanted "Patient Money

[melow]

whognu, this is more or less how I read it too. would you know how many shares are outstanding? the nr says they are going to distribute $7M to the unitholders; so what is that per share. I find this deal is very onesided and what they are trying to do is force the holders unload as many units as possible in the shortest time. just some thoughts on that...

[melow]

JungleB, I don't know when you invested in Held, but if I remmeber correctly the time period we were given was a few years...my patience has long run out because we are pushing 10years now. If I had put my money in any other prudent investment I would've doubled it by now... my return so far has been wopping -60%....

[JungleB]

I can relate, melow I got in in 1994 (Held #2) with the same results. I also agree with respect to other investments. I will never fall for a "patient money" sales pitch again. No question, looking back it was a bad investment. The question now is are we better off hanging in there or taking the $1.00 or so per share and re-investing that money in something else? I am hoping