--- In AsburyPark@yahoogroups.com, "dsher4" <[EMAIL PROTECTED]> wrote: > > > We have to be careful what we wish for here. The disaster scenario > would be MM pulls out of Asbury and nobody else steps up to take > over the project because other real estate opportunities are trading > at distressed prices now but don't have nearly the risk that Asbury > has. Or MM funds for Asbury get diverted elsewhere because of the > opportunities arising. I spent all day at a distressed conference > today and spectacular properties are trading at enormous discounts. > > It becomes very difficult, virtually impossible to get funding for > long term projects in this environment particularly ones that don't > generate near term cash flow (asbury is a long tailed, long term > cash flow play with big potential reward but bad near term > economics). > > I wonder what the cotingency plan would be if MM backed out and cut > its losses to focus elsewhere. This is probably a much more serious > risk than most on this board perceive. Any thoughts? > > dan S.
very sobering post....even in a great market/ideal economic environment it would be difficult to pull off what MM is attempting. all I can say is I hope they stick it out....they have made a huge bet on AP and I hope it pays off for us all. ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/