(Topic ID: 203700)

deeproot Pinball thread

By pin2d

6 years ago


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  • Latest reply 3 days ago by blueberryjohnson
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deeprootcapital-321-2024.02.27.pdf (PDF preview)
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SEC-140-2024.02.05.pdf (PDF preview)
SEC-139-2024.01.25.pdf (PDF preview)
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Topic index (key posts)

357 key posts have been marked in this topic, showing the first 10 items.

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Post #111 Firsthand information from the Magic Girl programmer. Posted by applejuice (6 years ago)

Post #3026 RAZA promotional video Posted by PinMonk (4 years ago)

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Post #5874 RAZA video with more audible game sounds Posted by zaphX (4 years ago)

Post #5926 First RAZA video with successful ramp completion Posted by zaphX (4 years ago)

Post #5967 Another RAZA gameplay video Posted by flynnibus (4 years ago)

Post #6050 Closeup pictures of key playfield features Posted by Potatoloco (4 years ago)

Post #6133 Video of display animations Posted by LateCenturyMods (4 years ago)

Post #6329 Summary of Robert Mueller's interview Posted by jeffspinballpalace (4 years ago)

Post #6724 RAZA Gameplay video Posted by DS_Nadine (4 years ago)


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#16101 3 years ago

It’s very interesting to read the wording of the ad. It almost contemplates a new tenant. Below market rates, multi tenant suitable, value added asset. Obviously it could just be the bias of whoever wrote the ad.

Also, they do not price the building but they do include a cap rate. The cap rate is calculated based on price. Cap rate = net income / sale price. The inclusion of the cap rate has effectively priced the asset.

I am probably reading to much into it, the ad was probably written by the realtors 19 year old assistant....

Cheers

1 month later
#17444 2 years ago

The fat lady is singing!

1 week later
#17778 2 years ago
Quoted from blueberryjohnson:

Legit question regarding commercial leasing: Is standard practice to sign a multi-year lease with no renewal option (as the posted doc indicates deeproot has done)?

It’s foolish from the Tenants perspective. Especially if they have to make substantial tenant improvements. They could be forced to leave at the conclusion of the term. Typically however, tenants would have several 5year options to renew.

The only time Landlords are averse to giving renewal options is if they are planning to demo the building. If we assume the current state is the highest and best use of the land (no plans for condo tower or office tower) there is no reason for Landlord not to give options. The only other time would be if the owner wanted to move into the building themselves. Unlikely.

#17788 2 years ago
Quoted from blueberryjohnson:

That property overview doc I shared indicates a lower sq ft rate because tenant is responsible for a variety of regular expenses related to the property and perhaps other significant ones as well?
I asked the renewal question because I have zero experience with commerical real estate. I've only ever rented apartments and had leases with built-in rolling renewals.
Does having no renewal option suggest that before the term's end dr will negotiate a brand new lease or that the landlord expects/wants someone else in there come April 2023?

In commercial leases, tenants are responsible for base rent and common area costs or sometimes also called operating costs. Things like property tax, snow removal (not here), garbage removal, servicing the hvac, lawn maintenance, parking lot maintenance, non structural roof repairs etc all are part of the operating costs. Basically all the costs involved in maintaining the building and lands.

As a poster already mentioned, If the tenant wants to stay, they will sign an amending agreement which basically sets out the new term and rent. Our leases are about 60 pages and the amending agreement is usually 3 or 4 pages.

It’s hard to gauge the Landlords intentions at this point. I will say it’s foolish by the tenant to not have renewal options in its lease. There is no cost and the option to renew is entirely up to the tenant.

Cheers,

C.

2 weeks later
#18174 2 years ago
Quoted from Scandell:

Actually does sound like a decent podcast conversation. Hahaha

May I go so far to suggest to reach out to Kaneda's Pinball Podcast? I am sure he would love the opportunity.

Cheers,

3 months later
3 weeks later
#24765 2 years ago

I would be interested to see the front door. It didn’t look like the pics had the main entrance. Typically when a landlord seizes the premises for lease default, a notice is attached to the front door.

#24779 2 years ago
Quoted from ForceFlow:

I thought photo 3 was the main entrance.
Those doors appeared to have the contact info & hours covered up.

Hard to say for sure. That door said no entrance and seemed to show a different spot where there was a “public entrance.”

In retrospect, with a few possible options, the landlord would likely post on all of the entrance doors to cover his bases. The lease may have had other alternative options to serve notice but the front door is usually gets posted.

3 months later
#27300 2 years ago
Quoted from Oldgoat:

Remember the original fund investors were starting to hit the date at which their principle should have been reimbursed. I think the more likely scenario is that RM was trying to get people to re-up, (i.e., to roll their principle) into one of his new funds but not everyone bit. It wouldn't have taken many retirees to demand their principle payment to break the back of the scheme. If investors could not get their money back and sought legal advice...well, the SEC would have been one of the first calls. I think it is far less likely ees in the pinball business assumed their money issues were linked to the alleged misappropriationg of the Deeproot 575 funds and reached out to the SEC.

Given that he couldn’t reliably make his payroll, one or two investors demanding the return of their principal would be enough to knock over that house of cards.

Cheers

3 months later
#29627 2 years ago
Quoted from flynnibus:

I don't think the landlord gets to jump the line like that. I think the argument was the landlord needed the building cleared, so they could accelerate the auction so the landlord could move on.. (and the estate stops accruing even more debt from the landlord).

I believe that once the trustee has been appointed and until the space is cleared out, the landlord gets paid first for that period of time. At least that was our experience some time ago. For the arrears, the landlord just becomes one of the many unsecured creditors.

1 week later
#30220 1 year ago
Quoted from theFeels:I notice someone asked about computer/servers. I believe they used google drive, Microsoft office products as well as local servers. Turner Logic had a server setup for the machine code but I'm not sure were it's physical location was. The were atleast two local servers on site, one for financial stuff and the other for CAD/ENG data.

The building was leased to Robert. I was speculating they got notice to pack up and go before anyone else did. Assuming that it would not be in the interest of the landlord to let anyone in the building after doors closed. Even if the renters of the renters are in the clear, removing equipment that is being used as leverage for rent money would seem to encourage tenants to not pay rent.
At any rate TL definitely had access to the software, even after the building closed since their equipmet/office were cleared out.

Deeproot would have been given demand letters by the Landlord demanding payment. Once the notice period deadline has passed, the Landlord changes locks and retakes possession. While the Landlord has no claim against goods and equipment belonging to outside parties, if said goods get locked inside, it can be a pain getting them back. The outside party will have to prove ownership etc.....Deeproot knew that the landlord would be coming....

1 year later
#33319 4 months ago

10 days of trial? How is RM paying for this? Is he still pulling money from deep root accounts? The costs on the defendants side (both sides really) must be astronomical.

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