Greit liquidating trust, independent financial advisors
Other than as set forth above, to our knowledge, there are no material pending legal proceedings. Typically, operating expenses in these leases do not include insurance cost. The loan documents contain certain customary representations, warranties, covenants and indemnities. However, due to the long-term nature of the leases, among other factors, the leases may not re-set frequently enough to cover inflation. However, 11th grader dating 9th grader we could still suffer a loss due to the cost to repair any damage to properties that are not insured or are underinsured.
Limitations on Liquidating REITs
An allowance was maintained for estimated losses resulting from the inability of certain tenants to meet the contractual obligations under their lease agreements. These projections could change materially based on the timing of any sale, the performance of the underlying asset and change in the underlying assumptions of the projected cash flows. Loss from continuing operations before discontinued operations.
In addition, there can be no assurance that third-party insurance carriers will be able to maintain reinsurance sufficient to cover any losses that may be incurred. Net cash provided by investing activities. Upon such issuance, Seller will be admitted as a shareholder of Purchaser. He also serves on the board of directors of Glenair Inc. Net cash provided by operating activities.
Independent Financial Advisors
- The deficit cash flow and return of capital was funded by a loan from an affiliate of our Advisor.
- The net liquidation proceeds from each property may also be affected by the terms of prepayment or assumption costs associated with debt encumbering each property.
- The arbitrator shall render an award and a written, reasoned opinion in support thereof.
- If the outstanding balance of the debt secured by the mortgage exceeds our tax basis in the property, we would recognize taxable income on foreclosure, but we may not receive any cash proceeds.
- These estimates are made and evaluated on an on-going basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances.
- Financial Information about Industry Segments.
Purchase of investments in unconsolidated real estate and joint venture. These costs are estimated and are expected to be paid out over the estimated liquidation period. Recognition step one occurs when an enterprise concludes that a tax position, based solely on its. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.
These costs are estimated and are expected to be paid over the liquidation period. Tenant Receivables and Allowance for Uncollectible Accounts. Under the liquidation basis of accounting, our investment in the Congress Center property is recorded at fair value less costs to sell. Our interest rate risk objectives are to limit the impact of interest rate changes on earnings and cash flows and to lower our overall borrowing costs. Prior to the adoption of the plan of liquidation, we recognized base rental income on a straight-line basis over the terms of the respective lease agreements including rent holidays.
Moreover, a number of the prior performance data figures were themselves erroneous, even as presented on a tax or cash basis. The units of beneficial interests are not transferable except by operation of law or upon the death of a beneficiary. Liquidity and Capital Resources. Insurance on the Property shall be cancelled as of a. This geographic concentration of properties exposes us to economic downturns in these regions.
The stated range of stockholder distributions disclosed in the plan of liquidation are estimates only and actual results may be higher or lower than estimated. Barstow Road Shopping Center. Phelan Village Shopping Center. These estimates for liquidating distributions per unit include projections of costs and expenses expected to be incurred during the period required to complete the plan of liquidation.
Securities Matter Agreement. Financial Statements and Supplementary Data. Dramatic increases in insurance rates could adversely affect our cash flow and our ability to make liquidating distributions to our beneficiaries pursuant to the plan of liquidation. Issuance of common stock for dividends reinvested.
In and all loans from our Advisor were repaid from the sale proceeds of Village Fashion Center and Palm Court. Century Plaza East Shopping Center. Retention Bonuses and Milestone Payments. Based on the approval of the plan of liquidation, kenya online dating and romance we are committed to winding-up our operations.
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- Our beneficiaries will have no subsequent opportunity to vote on such matters and will, therefore, have no right to approve or disapprove the terms of such sales.
- To the extent that we receive less income than we expect during the liquidation process, our liquidating distributions to our beneficiaries will be reduced.
- Gain on sale of real estate and joint venture net of related income tax.
- Income loss from discontinued operations.
- Purchaser shall not be responsible for any amounts due to any employee work at the Property, including all wages and accrued benefits.
In addition, the liquidating distributions to our beneficiaries may be paid later than we predict. The fair value of the contribution to the liquidating trust would represent the new owner's basis in the liquidating trust. If we are unable to find buyers for our remaining assets at our expected sales prices, our liquidating distributions may be delayed or reduced. All of our current Trustees meet these same requirements for independence. Our advisor manages our day-to-day business affairs and assets and carries out the directives of our Trustees.
SEC Info - G REIT Liquidating Trust - 8-K for 12/30/03
Truckee River Office Tower. Loss from continuing operations. Cash flows provided by used in investing activities. All income and expenses of the Property shall be apportioned as of a. Ownership of Congress Center.
The execution, delivery and performance of this Agreement by the Purchaser have been duly and validly authorized by all necessary action of Purchaser. We refer to our indirect interest in the Congress Center property as. In owning units of beneficial interest, time first our beneficiaries are subjected to the risks associated with owning real estate. All material intercompany transactions and account balances have been eliminated in consolidation.
Refund payment of deferred financing costs. Such financial statements and accompanying notes are the representations of our management, who are responsible for their integrity and objectivity. Minority interests distributions. Change in fair value of marketable securities.
Member Board of Trustees at G REIT Liquidating Trust
Our other commitments and contingencies include the usual obligations of real estate owners and operators in the normal course of business. Equity in Earnings of Unconsolidated Real Estate. Seller has timely and properly filed all Tax Returns required to be filed by it and has timely paid all Taxes required to be paid by it. Due Diligence Allowance b.
Changes in fair value are included as a component of interest expense in the consolidated statement of operations in the period of change. Dollar Amount of Cash Generated from Operations. Northstar Crossing Shopping Center. Diluted earnings per share are computed based on the weighted-average number of shares and all potentially dilutive securities, if any.
North Reno Plaza Shopping Center. Additionally, if the lender were to seize our. We may become involved in this type of litigation as a result of the plan of liquidation. Substantially all of our work is performed by employees of our advisor and its affiliates. Our operating cash flow, therefore, depends materially on the rents that we are able to charge to our tenants and the ability of these tenants to make their rental payments.
G Reit Liquidating Trust
Stock compensation expense. The actual settlement amounts realized for assets and settlement of liabilities may differ materially, perhaps in adverse ways, from the amounts estimated. Pursuant to the Advisory Agreement, our advisor or its affiliate is entitled to receive the payments and fees described below. The risk of loss relating to the Property prior to Closing shall be borne by Seller.