Real shocker, this news.
I'd meant to post re that Realdeal article from a couple months ago, which clearly erroneously reported that GS had provided $470 mil in financing. That was obvious nonsense, and I suspect what happened is that that rag, which in no small part just 'piggy-backs' off actual reporting, largely recycled a Crain's (or Trib - can't remember which) article which happened to mention some sort of GS financing, along with a price tag on the project of $470 mil. So what does Realdeal do? Reports that GS is providing $470 mil of financing for the project. Yeah....no. My guess - and this is just a guess but seems to fit - is that GS may have been providing some sort of bridge financing - or something with similar effect - to kick-off construction until the developers were finally able to get their act together and put together complete project financing. Reminiscent of Teng-Waterview (although I can quite recall the details in terms of who was actually financing that project at the start).....
__________________
It's simple, really - try not to design or build trash.
Last edited by SamInTheLoop; Jul 8, 2020 at 12:28 AM.
|