Reply to Big GDS news

Forum Index » Private & Independent Schools

Reply to "Big GDS news"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]This is an oversimplification. After Cerberus bought Safeway, they offered a number of local stores for sale, such as Palisades. When they didn't get their target price, they took them off the market. GDS was willing to pay more for the Ellicott site than it was worth, pound for pound, compared to other underperforming stores.

[quote=Anonymous][quote=Anonymous][b]When did Safeway say it was abandoning the project because of opposition?
[/b]
[quote=Anonymous][quote=Anonymous]FIFY

"Except its gone because GDS offered far more for the property than it's value to any other bidder, and the PE company that acquired Safeway wouldn't turn down a windfall like that."

[quote=Anonymous]Except its gone because the likes of you scared off Safeway when they were going to develop the property themelves.[/quote][/quote]

Actually it was the proposal about a year before GDS bought the property that the NIMBYs fought., so no, you didn't fix it for me. This was the proposal to put 5 stories of housing on top of a Social-Safeway size store.

Alas.[/quote][/quote]

They didn't.  Cerberus, a large and sophisticated private equity firm (and hardly a bunch of pushovers), bought Safeway and proceeded pretty quickly with decisions to close smaller, under-performing stores and to concentrate on core businesses.  Clearly Cerberus decided that renovating the Safeway and redeveloping the site to include mixed-use didn't fit with the new strategy. [/quote][/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics