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12-23-2010, 02:32 PM
  #30
kdb209
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Quote:
Originally Posted by Thomas Steen View Post
They own the "managing lease" of Phillips. They just can't sell or leverage the building itself... All revenues coming from that building they get..
And since they don't own the land or building, they don't have to pay property tax.

In many cases, being granted the Master Lease is more lucrative than actually owning the building.

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