A Statement by Elliot Lake Retirement Living
(firmenpresse) - ELLIOT LAKE, ONTARIO -- (Marketwired) -- 07/25/13 -- We at Elliot Lake Retirement Living believe it's important to clarify the facts regarding the sale of the Algo Centre Mall to Robert Nazarian's Eastwood Mall Inc. in August, 2005.
We provided Mr. Nazarian with all the information he requested prior to the sale, as any responsible vendor would do.
Mr. Nazarian was made aware by us and others, including tenants at the mall, that the parking deck leaked at times during the year. With this knowledge, he negotiated two price reductions of one million dollars each to allow him to address the issue.
The letter requesting the first discount gave the reason that "the purchaser intends to improve the condition of the property and parking lot in due time." His request for the second reduction was to allow him to have sufficient cash in reserve to effect repairs. In addition, both parties - Mr. Nazarian and Elliot Lake Retirement Living - agreed that the property would be sold "as is".
We were fully open and forthright with Mr. Nazarian, throughout the entire negotiation and sale process.
We're looking forward to The Elliot Lake Inquiry continuing its fine work.
Richard Kennealy, General Manager
Elliot Lake Retirement Living
Contacts:
Elliot Lake Retirement Living
Marielle Brown
705.848.4911, ext. 528
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Datum: 25.07.2013 - 16:23 Uhr
Sprache: Deutsch
News-ID 281909
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Town:
ELLIOT LAKE, ONTARIO
Kategorie:
Family
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