Welltower Inc. announces a transformational gift to the University of Toledo...

Welltower will donate its state-of-the-art, LEED-certified office buildings and approximately 100 acres of land (right nearby main campus on Dorr St.) for the benefit of The University of Toledo....

Estimated value of more than $30 million...

LINK: http://media.utoledo.edu/2017/09/20/well...of-toledo/

Awesome... very happy this happened

http://www.toledoblade.com/Education/201...story.html

Sell it, then it would be a gift. Right now, it's another detached operating cost with a "We're not sure how we're going to us it." Can they put a baseball diamond on it.

I don't think I'm properly visioning this shared space but that property has changed hands so many times for some reason and operating cost would seem a reasonable culprit. It's hardly modern day efficient. Might have made a SUPER Pres. Home but I guess too late for that.

Too good an opportunity to pass up really. If it can't balance the sheets within five years however, ...

Now if Inverness would just get the fever we'd have a nice home course. Prolly turn a few bucks with that.

Guess we will see how this works out...

(09-20-2017 07:44 PM)H2Oville Rocket Wrote:  Now if Inverness would just get the fever we'd have a nice home course. Prolly turn a few bucks with that.

Inverness is the home course for the men's team.

(09-20-2017 07:24 PM)San Giuseppe Jato Rocket Wrote:  The Welltower people are financially savvy professionals; I think the key term here is "lease-back structure" I don't envision noticeable, short-term wholesale changes but it also doesn't appear they need every square foot they acquired from Dana. I hope they're abandoning Toledo as its primary HQ

I don't follow. Why would that be a good thing?

Inverness is one of the greatest golf courses in the world.

I thought the headline was going to be about a 7'2" - 310 lb pogo stick from the basketball gods.

:-(

(09-20-2017 07:56 PM)eastisbest Wrote:  

(09-20-2017 07:24 PM)San Giuseppe Jato Rocket Wrote:  The Welltower people are financially savvy professionals; I think the key term here is "lease-back structure" I don't envision noticeable, short-term wholesale changes but it also doesn't appear they need every square foot they acquired from Dana. I hope they're abandoning Toledo as its primary HQ

I don't follow. Why would that be a good thing?

I suspect a key three letter word is missing.

A couple of side notes:

1. The property was for sale at less than $9 million according to a recent Blade article. Quite a bit less than the $30 million being thrown around.

2. Although it is a very beautiful property, I have to wonder what UT will do with it. The buildings could hold hundreds of employees. Not sure who could be transferred there. There are acres and acres of lawn to be mowed and other landscaping plus maintaining the buildings. Interesting from a school that just did a study to determine which campus buildings weren't being used enough and should be mothballed.

3.For those that don't know, UT also owns 10 acres at Dorr and Richards very close to the new property. Very nice piece of land with woods at the back.

The UT endowment is very close to being Half a Billion Dollars, which is very impressive! The UT Foundation and Alumni organization need a new home so maybe they will move in there?

(09-21-2017 07:40 AM)DetroitRocket Wrote:  A couple of side notes:

1. The property was for sale at less than $9 million according to a recent Blade article. Quite a bit less than the $30 million being thrown around.

2. Although it is a very beautiful property, I have to wonder what UT will do with it. The buildings could hold hundreds of employees. Not sure who could be transferred there. There are acres and acres of lawn to be mowed and other landscaping plus maintaining the buildings. Interesting from a school that just did a study to determine which campus buildings weren't being used enough and should be mothballed.

3.For those that don't know, UT also owns 10 acres at Dorr and Richards very close to the new property. Very nice piece of land with woods at the back.

Would be a great location to establish a College of Golf.

After I graduated from UT I actually worked as one of those finance professionals at Welltower (then the name was HealthCare REIT prior to their rebranding) for a few years prior to leaving for a different job. It's a beautiful building both inside and out and was newly remodeled after it was acquired from Dana. It has a cafe and a really nice gym and locker room area. When working there I would watch dozens of deer grazing the grounds from my office which made for a pretty nice work environment. All this being said and having been there, I am not sure what the application is for the university aside from a home for the UT foundation/alumni office. Even then, the main building is a BIG office for those uses and the lawn is a beast to upkeep. We essentially had lawn crews there every single day to maintain the grounds. Hopefully they surprise us but I tend to agree with the idea of selling it and reallocating those resources.

goats and sheep for the new college of husbandry/golf. And to prepare graduates for the golfing grind in Florida, aligators.

Every problem has a solution hoping to be found.

(09-21-2017 07:44 AM)Stpetebeachrocketfan Wrote:  The UT endowment is very close to being Half a Billion Dollars, which is very impressive! The UT Foundation and Alumni organization need a new home so maybe they will move in there?

I think this is very likely. I am having mixed emotions about this. Great for University....possibly....but bad for the city because it will take it off the property tax rolls.

I think that an Inverness partnership would help. Could locate club facilities over there. Would make a great place for student housing. Maybe put the recreation fields that they want to develop there. Parking and a fence already in place.

(09-21-2017 04:48 PM)indianasniff Wrote:  

(09-21-2017 07:44 AM)Stpetebeachrocketfan Wrote:  The UT endowment is very close to being Half a Billion Dollars, which is very impressive! The UT Foundation and Alumni organization need a new home so maybe they will move in there?

I think this is very likely. I am having mixed emotions about this. Great for University....possibly....but bad for the city because it will take it off the property tax rolls.

I think that an Inverness partnership would help. Could locate club facilities over there. Would make a great place for student housing. Maybe put the recreation fields that they want to develop there. Parking and a fence already in place.

The Inverness Club will never do anything like that. They won’t give up their club for a month for the USGA. They would never want a bunch of college students running around their club.

(09-20-2017 07:54 PM)DetroitRocket Wrote:  

(09-20-2017 07:44 PM)H2Oville Rocket Wrote:  Now if Inverness would just get the fever we'd have a nice home course. Prolly turn a few bucks with that.

Inverness is the home course for the men's team.

I can remember when the home course was Ottawa Park and then Stone Oak (which used to be Glengarry - site of the first few Jamie Farr tourneys.

Can you imagine college kids today playing at Ottawa Park. There would be a number of par 4's they would be driving with less than a driver and par 5's that would be a 3-wood, pitching wedge to the green. I knew somebody that had only 1 hole in one in their life and it was at Ottawa Park - on a par 4 hole. An "albatross" (or double eagle) on a par 4.