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iStar Financial Inc. Message Board

javadeliinc 3 posts  |  Last Activity: Mar 13, 2015 3:14 PM Member since: Dec 11, 2008
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  • javadeliinc by javadeliinc Mar 13, 2015 3:14 PM Flag

    From Crains Detroit.
    The sale of One Detroit Center to Dan Gilbert is all but a done deal and expected to close by the end of the month for about $100 million.
    Sources say estoppel certificates have been sent to the tenants of the 957,000-square-foot skyscraper at 500 Woodward Ave. with a very distinct name included in them: 500 Webward LLC.

  • Reply to

    Q32014 gain

    by goldencowrie Feb 20, 2015 10:45 PM
    javadeliinc javadeliinc Feb 21, 2015 12:42 AM Flag

    Not sure Golden..press release refers to several properties. It could be the interest they had with Ian Schrager for the Public Hotel in Chicago?? It's for sale now but only mentions Schrager and Morgan Stanley, so perhaps Morgan Stanley bought out iStar's interest. Total speculation though.

  • Reply to

    appeal

    by quadruplemalt Feb 11, 2015 1:36 PM
    javadeliinc javadeliinc Feb 11, 2015 5:29 PM Flag

    Quad, seems like Lennar is just trying to save face with their shareholders by appealing since they never disclosed the details of this lawsuit in any filings until this year. At 12% carry plus legal fees, they gotta be thinking about cutting their losses before it gets much worse.

    They just priced $250m of senior notes today for "working capital and for general corporate purposes" which is about what they need to settle this. Maybe they are getting ready to cut a check :).