The Barron | 43m | 11s | Strategic Group | Gibbs Gage

Given that Cairo is a developer themselves, I wonder if it's a construction contract where instead of payment, they get equity based on how much they spend on finishing construction. Otherwise, I doubt Strategic is very bankable...
 
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jdixon said:
Given that Cairo is a developer themselves, I wonder if it's a construction contract where instead of payment, they get equity based on how much they spend on finishing construction. Otherwise, I doubt Strategic is very bankable...
Click to expand...
Would imagine that the deal, if ther is one, would be for equity in excess of construction costs. Strategic has been pretty good at having very separate businesses, so they have high risk (went bankrupt) and low risk. Whatever gets this done, I'll (]probably) be happy.


As a side note, and perhaps already posted, I remember a story in the Globe about someone that bought this property, probably around 2019 or 2020 at an auction. If I recall correctly, it was a layer that didn't think he had a chance, then bought for well under $1M.....perhaps more like 300k to 500k, but I don't recall.
 
The +15 has privacy screens that make it hard to take a picture, but there are workers on site and a lot of rebar being prepped, so looks like work is still progressing.
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Am I incorrect to assume this could actually be turned around decently quick. The structure is all there so now that they're actually working on it this could be wrapped up the end of the year?
 
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