TumblingBones
TumblingBones
Joined: Dec 25, 2016
  • Threads: 16
  • Posts: 245
July 30th, 2018 at 6:14:34 AM permalink
According to recent story Straub still has lots of property in AC and claims to have development plans for it (heard that before, haven't we?). He also still has business ties to Oceans after selling the property:
Quote:

Straub ultimately sold the property and the plant to Colorado developer Bruce Deifik in January 2018 for $229 million, making a tidy profit.

As part of the sale to Deifik, he also held on to the rights to various parking fees that will see him collect $1.50 for every car parked in the garage beginning in 2021. The fee will also increase to $4 a car in 2028. Apparently, Straub will retain those parking fees for a period of 99 years.

My goal of being well informed conflicts with my goal of remaining sane.
100xOdds
100xOdds
Joined: Feb 5, 2012
  • Threads: 486
  • Posts: 2730
July 30th, 2018 at 12:37:43 PM permalink
Quote: TumblingBones

According to recent story Straub still has lots of property in AC and claims to have development plans for it (heard that before, haven't we?). He also still has business ties to Oceans after selling the property:

Quote:

Straub ultimately sold the property and the plant to Colorado developer Bruce Deifik in January 2018 for $229 million, making a tidy profit.

As part of the sale to Deifik, he also held on to the rights to various parking fees that will see him collect $1.50 for every car parked in the garage beginning in 2021. The fee will also increase to $4 a car in 2028. Apparently, Straub will retain those parking fees for a period of 99 years.


so he buys Revel for $82M, sells it for $229M 3yrs later.
plus a 99yr income stream.

the new owners must think they can print $$$ with Ocean to agree to that.

Time will tell.
Lets see what the financials are at 1 year mark.


oh.. Morgan Stanley just came out with a warning today about a massive sell off in the stock market VERY soon:
https://www.marketwatch.com/story/prepare-for-the-biggest-stock-market-selloff-in-months-morgan-stanley-warns-2018-07-30
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)

  • Jump to: