That’s right, $2.5 Billion! Well, OK, it is only $1,377,351,000 with a $2,527,351,000 maximum, but I get giddy when there are that many zeroes and commas.
The property is the Montage, which just passed from Montage Marketing Corporation to Montage Marketing LLC. The Deed of Trust is actually for the entire former Corus portfolio which includes the Monty. Then there is a second document recorded today, subordinating the interests of Montage Marketing and a new player, Corus Construction Venture LLC.
Interesting technical reading for those with with a stake in the project, and an interesting insight to mega deal paperwork. I’ll check APNs that got left out to see if any of the retail spaces are "free flying" and in some other state of being.
Coming up: I’ve got all of Page Ventures / NRES NV I LLC transactions charted, and am working to refine the Excel spreadsheet so that ‘yall won’t laugh at me too much. The story of the Holcomb Townhouses. And there is a rumor going around that Ms. Diane might have a few (thousand) words for us soon. Kuhl!