Money should come from a Real Estate Loan. They have the land lease and possibly could subordinate the lease payments to the lender. The buildings will be pledge to the loan. They are asking for much less money to build this project now. They have receivables to pledge etc. Lender will also look at Management with Koppelman and Paterson involved this will help IMO. I feel that they can get this done for phase one. The original cost was ridiculous! No Glamour here. Real assets with normal construction loan. Real Deal. IMO
Disclaimer: These are my personal views and are not to be construed as a recommendation to buy or sell a security. You should rely on your own due-diligence when making investment decisions.
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