Posted by Reif on January 04, 1999 at 18:36:22:
I’m a new guy, so please forgive me for jumping in, but I’m trying to work my creative juices as well.
I still don’t think you’ve explained to us what the seller needs - except reduced rent. He says he has 112K “in” the place - is that what he expects out? Or more?
If it’s worth 115K, you surely can’t give him 112K, especially if after that he wants reduced rent.
If it’s worth 115K, even 100K seems a little steep if you are obligated to keep him as a tenant below market rates.
I think you really need to find out what he needs to get back from the sale - I don’t think it’s clear yet.