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| Re: Old London Melba Toast factory in Bronx relocating to NC - 228 jobs lost (554128) | |||
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Re: Old London Melba Toast factory in Bronx relocating to NC - 228 jobs lost |
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Posted by trainsarefun on Mon Jan 25 10:47:43 2010, in response to Re: Old London Melba Toast factory in Bronx relocating to NC - 228 jobs lost, posted by AMoreira81 on Mon Jan 25 08:50:56 2010. But isn't Tishman Speyer an REIT? If so, how did they get that one so wrong?I don't know. They had a terrible business model. To make money, you buy low, and sell higher. For them to have made money, the numbers were simply not there. They had dream scenarios that just weren't based in reality about how many units they would vacate, what the rent would be, and how they could get the government to pay for a lot of it. As I said, it will go down as quite possibly the worst real estate deal in modern times. |
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