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selling: "we are not the right owner for this asset" foreclosure: "the current owner, the world's expert on making this location profitable, concluded it can't
by inimino 3y ago
selling: "we are not the right owner for this asset"
foreclosure: "the current owner, the world's expert on making this location profitable, concluded it can't be done"
You can argue that it's reductive, obviously that's true but this is the "self-evident" optics people are responding to. (Not the GP but HTH.)
- deleted 3y ago[deleted]
- gingerrr 3y agoAh ok, I may have been trying to look too deeply then if they were just alluding to the noxious side effects of any write-off. I guess this seemed like the obvious next step for them, to me. Considering recent store closures, operational costs have to be close to outpacing revenue at this point so waiting for a potential buyer wouldn't make sense while losing money daily. Especially not when you already planned to divest of the asset - you'd save yourself trouble and time and write off the loss. So I got curious about what other ramifications I was missing - like maybe those replies were insinuating the foreclosure was an first trickle of a broader collapse in commercial real estate, or something else that wasn't just "SF downtown bad" again. Thanks for clarifying!