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Enron Mail |
Today we negotiated a handshake agreement with Smith Properties to buy out JEDI's position in Inland for $2 million ($1 million net to Enron). The DASH minimum was $1.25 million ($612,500 net to Enron), the original offer. Documentation will be simple: our rep is limited to we own it and we can sell it. Expect to close and fund next week.
Given the Inland situation and the absence of any foreseeable payment on our preferred, I view this outcome as very favorable. Brandi Morris' work on this transaction was outstanding.
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