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Re: frosr6 post# 99886

Tuesday, 09/16/2014 12:10:43 AM

Tuesday, September 16, 2014 12:10:43 AM

Post# of 163692
The question is...how much does APT >>still owe<< on this real estate? I'm betting they used the payment that came from U.S. Bank (the entity that bought those federal tax credits at a deep discount in order to offset their own liability) to get in the place. Therefore, they likely have very little equity in it. How could they as it's less than 2 years since they did the deal? Imo it's also quite possible APT would be forced to return that $2 million in credits for failing to live up to the terms of the deal (i.e. creating 200+ jobs at $X dollars and other economic development promises). The IRS will sort that little detail out.

Also unknown is whether APT was/is current on all payments-- principal AND interest. What IS known is that they've not paid their property taxes since moving in.

Ultimately APT will not be allowed to extort Cerner for some huge amount. Cerner has no reason to pay above what is reasonable. Kansas City is 100% behind Cerner and --if needed-- will seize the property via eminent domain. They did just that not long ago or far away to push out a dinky vacuum cleaner company that was standing in the way of progress.

With APT reporting roughly 7 mil For building / lot (building value 6.4m and land at 300k) what do ya think Cerner is really going to pay? I pretty sure they will get paid over the value of the building/lot but I don't think it's going to be 100's of percent as some are claiming. From what I have read on corporations buying your land you more than likely receive double the value so (14mil) is more likely what we can expect with a high range of 3x or (21 mil).


We're entitled to our own opinions --but not our own facts.