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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]That link is interesting but doesn't really address who is financing the $185M in renovation. To be clear, the article puts a valuation of $110M on the real estate but says that Whittle is putting $185M into renovating it (which seems preposterous).

No rational investor seeking financial return is going to put up $185M for a school renovation. It's absurd. Again, near as I can tell, they don't even own the building. So if they don't pay their rent, they lose the money. There is no way that the building landlords ponied up $185M in tenant improvement money.

The money absolutely had to come from someone motivated by something other than a financial return and that has the deepest of deep pockets.  Hard to see this as someone other than a nation state or quasi-government investment arm.[/quote]

The PP’s point about lack of financial motivation is an interesting one..  I also cannot get my head around the math unless the investors / nation state backers / quasi government investment arms care little about financial returns...

Rental rates in the Georgetown area average between $46 and $54 per sq/ft (https://www.squarefoot.com/dc/washington/office-space)!  Given the size of the building, that implies well over $30 million a year to the landlord, and that’s before expenses for faculty, staff, electricity, transportation, catering, recreation.  It will take a lot of undiscounted tuition paying kids or financial backers who are content to keep pouring money in to to cover those kinds of expenses[/quote]

Outrageously overpriced things usually can be explained by money laundering.[/quote]

Troll[/quote]
Disagree as much as you want, but ths is in fact usually pretty true. The other option is that executives have set up a scheme to defraud their investors through kick-backs. But certainly there is fraud involved. The only counter argument that this is all above board is the cost that DCPS paid to renovate the Ellington School. However, since it is DCPS fraud, kick-backs and corruption cannot be ruled out there either.[/quote]

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