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  1. #1

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    Gardenwalk - Bids due Yesterday/Today

    OK - Gardenwalk finally went up for bid via a broker. Final bids were due either 1/27 or 1/28........

    Bids were due either yesterday or today.............. either way........... does anyone know who bid for the property? Does anyone know the machinations involved in the bidding process, what the baseline price was, etc............

    Just putting it out there............ many arguments for/against TDA purchasing this property and at WHAT price.............

    But the bid deadline has passed............. does anyone have any info? I, myself know nothing, just intensely curious........

  2. #2

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    Re: Gardenwalk - Bids due Yesterday/Today

    I think you'd be hard pressed to find any information on this for a while. I could be totally wrong, but I wouldn't be shocked if Disney put a bid on the property under a fictitious name. Further, you NEVER EVER find such a large lot of land being sold in a populated area of Southern California. The ability to purchase such a large lot really seems like a once-every-20-years situation. Disney would be pretty nuts not to at least put a bid in.

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  3. #3

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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by DJM View Post
    but I wouldn't be shocked if Disney put a bid on the property under a fictitious name.
    neither would I
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  4. #4

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    Re: Gardenwalk - Bids due Yesterday/Today

    ^ I would expect them to do so. It's the only way to prevent the owners from jacking up the price. OTOH, the fact that Disney refused to bid for the property when it went up for auction in 2010 might have sent the message that Disney's not interested if the price isn't reasonable.

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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by DJM View Post
    I wouldn't be shocked if Disney put a bid on the property under a fictitious name.
    it depends on how the bidding process is structured. if it is a one shot bid where the bids are opened and then the highest is taken, then there would be no need to hide their identity. if the bids need to be evaluated then most likely one of the factors could be the ablilty of the bidder to complete the deal. in that case, the name would be an asset. in any event, these days it shouldn't be too hard for any large corporation to find out who is who.

  6. #6

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    Re: Gardenwalk - Bids due Yesterday/Today

    Wait..wait. We missed it? We could have pooled our money as Micechat and bought the place.

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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by gary94080 View Post
    if the bids need to be evaluated then most likely one of the factors could be the ablilty of the bidder to complete the deal. in that case, the name would be an asset.
    I suspect this is what they are doing. According to the OC register the value of the property is estimate to be between 180M and 210M. City Bank who is trying to sell it is looking to recover something like 70M. That's a big spread with plenty of room for offers to fall into.

  8. #8

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    Re: Gardenwalk - Bids due Yesterday/Today

    I for one will be really disappointed if Disney didn't go after this property as it is a great piece to the expansion of the DLR.
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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by Garrett240 View Post
    Wait..wait. We missed it? We could have pooled our money as Micechat and bought the place.
    pooled our money?.. i would of only been able to put a dollar in! lol

    Quote Originally Posted by swampymarsh View Post
    I suspect this is what they are doing. According to the OC register the value of the property is estimate to be between 180M and 210M. City Bank who is trying to sell it is looking to recover something like 70M. That's a big spread with plenty of room for offers to fall into.

    you know.,, GW has alot of loans to pay back.. umm remember they have defaulted on almost every single one, at least that's what i heard on the playground soo really who ever buys GW, disney or not, should realize that before they start making a profit the revenue that comes some of it needs to at least go back to the companies that put out the loans in the 1st place.. am i right?

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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by Poisonedapples View Post
    you know.,, GW has alot of loans to pay back.. umm remember they have defaulted on almost every single one, at least that's what i heard on the playground soo really who ever buys GW, disney or not, should realize that before they start making a profit the revenue that comes some of it needs to at least go back to the companies that put out the loans in the 1st place.. am i right?
    The bank is selling the property to try and recover some of the loan money it will not be getting. There would be no market for reprocessed property if the buyer had to pay off the initial loan.

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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by lazyboy97O View Post
    The bank is selling the property to try and recover some of the loan money it will not be getting. There would be no market for reprocessed property if the buyer had to pay off the initial loan.

    well yeah duh i know they the bank is selling the property cause the initial owner defaulted...and ur right not all the lost loans can be reaccumilated..but hopefully if disney buys it they can pull the GW out of the downward spiral that it's heading....just sayin!

    ---------- Post added 01-31-2012 at 03:53 PM ----------

    .. so really in my mind i see it as the GW isn't really worth as much as it's being sold for, but the reason it's so high is because of the loans it defaulted on, they just kept adding up and up....right?

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    Re: Gardenwalk - Bids due Yesterday/Today

    I haven't followed the whole GardenWalk thing closely but who, besides Disney, would even want it? I'd have to imagine the only other competition would be coming from real estate developers this time around. The property, in its current form, is an absolute money pit from what I understand.

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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by Garrett240 View Post
    Wait..wait. We missed it? We could have pooled our money as Micechat and bought the place.
    can i use my disney gift cards? i am soo in!!! All i need is a cot in a broom closet somewhere and i will just live there lol

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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by BrodyDanger View Post
    I haven't followed the whole GardenWalk thing closely but who, besides Disney, would even want it? I'd have to imagine the only other competition would be coming from real estate developers this time around. The property, in its current form, is an absolute money pit from what I understand.
    If you will sell my something worth $20 for $10, I'll consider buying it.

    If Citybank sells Garden Walk that is worth 200M for 100M, lots of people are interested. They could sell it the follwing day for $110M to one of the parties that missed out and net 10M overnight.

    If Citybank sells Garden Walk that is worth 200M for 200M, there are going to be a lot less bidders.

  15. #15

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    Re: Gardenwalk - Bids due Yesterday/Today

    Quote Originally Posted by BrodyDanger View Post
    I haven't followed the whole GardenWalk thing closely but who, besides Disney, would even want it? I'd have to imagine the only other competition would be coming from real estate developers this time around. The property, in its current form, is an absolute money pit from what I understand.
    This.

    Disney quite literally is the only logical choice of a buyer. It's sad that they keep passing or doing whatever since they could do wonders with it, but I'm sure they have good reasons to wait.

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