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jt16

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Posts posted by jt16

  1. On 8/15/2019 at 1:26 PM, mollusk said:

    To clarify, what got filed was a suit asking to foreclose the mechanic's lien.  The filing looks very routine.

     

    These projects are frequently structured using single purpose entities.  What often happens when they go underwater is that the single purpose entity files for bankruptcy.


    There is a very structured process for contractors and subs to file suit for foreclosure.  This means that cemex has sent several notices to the project owner “fund trapping noticed” and gotten no satisfaction.  You foreclose on a property, not a company or owner.  If the suit goes forward, this property could very well be auctioned in a foreclosure process.  But that won’t be quick unfortunately 

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  2. KinkaidAlum I think you've out played your hand. Give it up. No one ever said this was about value. This was about the most prestigious public university in the state setting up a research campus in the biggesti city in the state. You've tried to twist and turn it but in the end reality prevails. Just hang it up. Wisdom and money prevails.

    Yeah, nobody question what's going on here. What is this, America?

  3. Agreed...and you'd better be strong. Houston is very strong, and continues to confound the 'wise.'

    Real estate in this town is in much worse shape than I think you realize. There's over one million sq feet in the energy corridor you can get dirt cheap. And poaching one tenant from one class a building to a new under construction building isn't a sign of strength. Residential real estate is down for the first time in years. This town has some rough times coming up. It's not doom and gloom because we are much more diversified, but oil is by far the economic driver.

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  4. It will be about $60.00/SF all-in

    Holy cow. Are new AA buildings really commanding that kind of rent downtown? In the current environment, why would anyone pay $60/ft in Houston?

  5. Monarch, don't confuse resorts and hotels. Marriott resorts can be very nice, but that doesn't make it a luxury hotel brand. I've stayed in the LM in LA and it was nice but not a luxury brand. The building didn't stand out and the location wasn't great either. My only wish would be for balconies. That would be baller if they could incorporate that somehow.

  6. Well,,, 10 pm is usually not safe for any major US city downtown

    Go to downtown Fort Worth. The Bass family pays for private security to police downtown, and as a result it's very nice, and far safer than most major downtowns.

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