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How many times did some blow hard rudely say their is no investor and they wouldn't make XL NHL

Oh Crow is a main course across Ct tonight 

 

 

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7 hours ago, glothelegend said:

Sooooo they offered to buy the XL Center AND do the renovations and that didn't happen why exactly??

They proposed the plan again last wednesday

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Just hasn't been accepted yet by the city and state. 

Let's just hope it happens now...but it does appear that our Knight In Shining Armor has arrived at last.

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14 minutes ago, MarkH2919 said:

Just hasn't been accepted yet by the city and state. 

Let's just hope it happens now...but it does appear that our Knight In Shining Armor has arrived at last.

Oh I don't even think it's happening, not at 7.25 percent.  There is an investor though period. 

If it was 6% or under I think it might fly. 

My post is to all the tough guys that uttered the words, "The NHL isn't looking here". All the rude oppinion only people on this are now horrendously Wrong.  

The NHL was a part of discussions Wednesday, as I've always said we have a shot it's a long shot but we have it like it or not. 

 

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That 7.25% can be negotiated, however.

The point, as you said, is that despite the haters insistence, and they know who they are...there is indeed an investor group and there is indeed interest in the XL Center.

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Just by going from the article they've been success**l selling debt for 3.4 and most deals like the one offered have been in the 6% range so how much negotiation room is there, that's the question?

You'll notice they are interested in intransit properties, meaning they see a boom from the incoming commuter rail. 

1.5 percent rent increase annually for 25 years but a promise to renovate and update all properties(250m) into XL as of today would make it New England's premier arena 

This is Hartford selling itself and then slowly buying it back at a high rate.  This is a very slippery slope but we'll see 

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"Just by going from the article they've been success**l selling debt for 3.4 and most deals like the one offered have been in the 6% range so how much negotiation room is there, that's the question?"

That is indeed the question.  Everybody knows how this state loves to shoot themselves in the foot...while it does appear this offer may be too good to be true, and yes, it's a very slippery slope...but at this point, does Hartford (and in turn, the state) have another option?  Not where I sit.

Time will tell.

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Hi guys just got back on, been a while but I saw this article come out today and wow, talk about timing.. plan b taking effect... where is everyone that said there was no investor, biggie, chad, basically everyone..

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It's a bad deal at 7.25 but I'm being told that the legislature is all a buzz with positive responses and questions.  Let the negotiating begin. 

 

I know the downtown residents don't like it they think it will ruin Hartford.  Buy now pay later type of thing. 

If they can success**lly sell their debt for half that than I understand why they're gripping.  The interesting part of course is the XL and that no matter how many downtown buildings oak gets they'll cover any renovation and maintenance cost for 25 years but don't forget the rent rises 1.5 each year too.

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Considered the amount of debt Hartford and the state has, and the risk involved with a city in the shape Hartford is in, anything much less than 7.25 might be too risky for the private equity firm, and it would be a bad deal for them (similar to not getting enough for buying junk bonds).  It would be interested to see if something like this has worked in other cities with the same issues. 

Since the article states they offered to buy the XL a year earlier, it sounds like that is independent of this new $2B proposal at 7.25 to buy buildings, etc. and lease them back, and buying the XL would be under completely different terms.  It will be interested what comes of both ideas (the $2B proposal, and the purchasing of the XL)

 

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