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.
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.
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 :).