From: "Farkas, Andrew L." ala>
To: Florida Science Foundation leevacation@gmail.com>
Subject: AYH
Date: Wed, 30 May 2018 21:49:24 +0000
At an 8.5% cap rate, after allowing for a 2.5% annual capex requirement, we believe the current value
approximates $20mm. There is a $12mm mortgage. As I said before, the asset has strategic value to the IGY
network so IGY is not a seller at this number, nor, as someone who considers himself to be amongst your best
friends, would I suggest that you be. But you asked and so I am responding. Current NOI approximates $1.7
mm. Also, your discounts on everything ranging from fuel to dockage to Office space approximates $180kJyear.
That would add to the NOI. But even if IGY bought it I would not be so petty as to do anything less than just
maintain those benefits to you. Anyway, it's your call. And I love you. So I do not wish to compel you either
way. Xoxo
Sent from my iPhone
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