inland resources 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 .
inland resources
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 .