Posted Oct 23, 2014, 9:38 PM
|
|
Registered User
|
|
Join Date: Apr 2010
Posts: 437
|
|
|
Little bit more has come out
http://therivardreport.com/primera-o...ew-tower-city/
Primera Properties has made an 11th hour offer to sell its 20-story Riverview Towers building at 111 Soledad St. to the City of San Antonio, barely beating the close of a 60-day period to respond to the Weston Urban/Frost Bank public-private proposal.
“It’s really not a competing offer, they are two very different proposals,” said Chuck Brown, Primera’s general partner. “The City currently occupies more than 50% of our building, so we’re just proposing an outright sale of the building. There’s a very good business case to be made for the City to just buy the building outright. The rent alone from other tenants over the next five years would support the bonds to own the building for the next 22 years.” Looks like you guys nailed it. They seem to be looking to get out of the Riverveiw building. 
|