Defense agency officials are suspected of selecting attractive sites, investing public funds in them, and then selling them off at below market value
Steven Worboys, MD of international real estate experts, Experience International said: "From our extensive research we believe that Below Market Value
property in Florida remains one of the most attractive investment opportunities available today.
Florida currently has a glut of properties offering discounts upto 70 per cent below market value
During the first year, rent is usually minimal, always far below market value
In respect to Samsung and its land sale to a business developer for the purpose of recycling refrigerators, it has been asserted that the land was originally sold "below market value
From 1993 to 2003, the Dixons purchased five other properties, repeating the pattern of buying below market value
, fixing them up, and then selling them at a higher price.
Despite the official inquiries into the group's financial affairs, HUD announced in July that the agency would sell 300 foreclosed properties to the Church Association group, which would then renovate the homes and sell them to low-income families below market value
. The appraised value of the homes involved in the deal is over $14 million.
The Love Canal Area Revitalization Agency (LCARA) has begun renovating the homes and offering them at 10 to 15 percent below market value
. Since they first went on the market in 1990, 91 have been sold and 70 more have committed buyers.
Rents in Santa Monica are estimated to be 30 percent to 50 percent below market value
These outdated policies, which he calls the "lords of yesterday," include the Hardrock Mining Act of 1872, which allows almost unrestricted private development of mining claims on over half of all federal lands with no government royalties; the "rancher's code": virtually unrestricted grazing rights on public land with grazing fees far below market value
; and logging as the dominant use of federal forests.
Although the GM Building is known for having some of the highest rental rates in the city--deals there routinely go for over $100 per s/f--a source revealed that there are a number of tenants, whose leases are soon up for renewal, paying rents far below market value