The city anticipates closing on the block next June 4, and no later than July 1, the document reveals.
In the event that the closing does not occur by Dec. 31, 2004, the city is obligated to offer the Bergers $23.25 million. If the Bergers decline the offer, the city is free to choose any other site for the hotel.
The city outlined what it called "favorable terms" supporting the purchase.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
