This Hotel for sale in Reno, USA was first listed on 2008-03-08 03:27:56.
Extract:
"Don't know cap rate, owner took out a 2nd @ 18%"
I think this refers to the $400 million financing loan that they took out and as mentioned in the HFS press release of January 2007......this was presumably sourced by HFS through a conduit lender.......or institutional investor:)
$300 million purchase price for GSR + $400 million financing = $700 million
So it looks like they are proposing to take on/ refinance the amount for the GSR purchase price + the additional/ secondary loan....which was presumably taken out to finance the improvements to the development.:)
Could it not be that the Conduit Lender (i.e Institutional Investor), who maybe missed out on the the first deal for GSR back in January 2007, along with HCPC, is now involved again in the refinancing of this deal....?
And could it not also be the case that they have decided to take GSR public, as Whichard had intended ( before they ran into financial difficulties), through RELM:).....and are they purchasing the Preferred Shares in HCPC...up to $1 billion worth......so they can finance this and other projects?:)
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