This excerpt taken from the DRE 8-K filed May 2, 2007.
And can you just give us a sense of what the purchase price and what the potential incentive payout may be?
Well, the purchase price, it was we didnt specifically disclose it because overall, it wasnt that material to our Company. But it was we bought it in really kind of three pieces. One was for the basically the operation that Jim had built over the years. One was for the existing properties that were in our joint venture. We bought out their 50%. One was for the future development potential. And thats what we paid initially. And that was in the I dont remember the total numbers, Michael, but Ill tell you it was in the $35 million to $45 million range. Something like that. And then the earnout potential, if they do development over a certain number in the next three years, they can earn a percentage of the development over a base amount. And so hopefully if they do real well, theyll earn a lot another significant piece of dough there. If they dont, then we wont have to pay them. But we feel very good about them being able to do that. But again, thats really totally based on how they do over the next three years.