Case # 12-cv-60082. Anything in particular you're looking for? I haven't logged in for a while. I figure there isn't much to see until the SEC makes their case for penalties in February.
hey Buybuy will you post the case number to the SEC trial, just got Pacer and want to go looking ( I know I can find it just am being lazy LOL)
I have thought for a while that the entire parcel of land was a 45-50m piece just based on generic price per unit calculations with a south fla premium thrown in........... IMHO we will see a sales price of 15-20+M to Lennar and then they will build another apartment complex on the remaining parcel that will be a 50-60M completed project...........
I also still think the "best" piece of dirt they own is the Orlando property ........
Thanks CG - Just checked the board for the first time today and you posted 6 minutes ago so good timing.
What do you figure BBX will actually make out of this project? Considering all of Bonterra had a carrying value of $30.7M and they still are in contract to sell a parcel to a homebuilder plus another JV for an apartment building they should be making a nice profit. I can't wait for them to announce the sale of that parcel.
The site plan and floor plans can be found pretty easily through Google.......prices start at 346k and go to 376k for the 4 floor-plans. So using very rough numbers that gives the "project" a total value of roughly $140,000,000. Which BBX is a 45% owner of..........when they decide to start pumping the stock its going to be ridiculous
Do you mean why did Levan and Abdo stop selling? I'm guessing the price got too low for them. They usually specify a minimum price for the broker. The trading plans are open ended and I think are rarely if ever subject to any blackout dates (that's one reason they put trading plans in place).
I certainly agree. They have more than ample cash. The caveat is volume is so low on both BFCF & BBX that if they did put a buyback in place they probably wouldn't be able to buy a huge amount without driving the price up, but why not try. It's possible they are waiting to see what the penalty is for Levan in March before they decide their course of action. I spoke to IR a few weeks ago and still think a buyback is certainly one possibility. It's possible they have some other things in mind as well. Remember Levan and Abdo want to get the price back up too so they can do some selling of their own. They seem to have stopped trading at these price levels.
The highest and best use of our money is buying back our very, very underpriced stock
I guess they have a good relationship with these guys which is fine with me although I'm more interested in the deals where they contribute land since monetizing their existing real estate is more important and helps me figure out what the land is worth.
sure, hottest city in Texas with some of the highest rents.........Class A apartments are great the first few years
start doing the math guys.......they will be over 1000 units soon on the way to 2000........who wants to bet the Orlando and Hialeah multifamily projects go to Altman as well
Alan would NOT be wasting OUR money on a Repurchase, I like it
Yeah I was just asking someone about that this morning. They do have some oil, but it doesn't seem to be the epicenter of the energy industry or anything. There seem to be a lot of other industries setting up shop in Austin including IT companies, call centers, etc. Austin is probably the most liberal city in TX and it seems to be attracting a young educated crowd.