Quote:
Originally Posted by Dieler
Who wants to sepulate what happens IF he defaults on his CALPERS agreement?
Anyone think CALPERS will move in and take over the project?
What might the Towers look like and what features might they have after a CALPERS redesign?
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This is PURELY speculation, not based on any information or contacts....but my hunch is that CalPERS has written off their $25 million "investment" as a total loss and they don't expect to recoup any of it.
CalPERS can't "move in and take over the project" unless they want to pay Mohammed the $22 million for his note, on top of what they've already spent. I don't think CalPERS is interested in financing a condo tower at 301CM now, with or without Saca.
Just speculation...
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