“Not even for the right price?”
“No. They wouldn’t care.”
“Not even for double what the property may be worth today?”
Mike paused. He hadn’t seriously considered how much property values would rise if the area were more developed. If this guy was being straight with him, there would be people willing to consider selling. Not that this would change his position, but it would increase pressure on others in the area who had property the anonymous developer wanted to buy.
“I can’t speak for my neighbors. But if you have an offer your client wants me to hear, let’s get it over with.”
“I do. And I think you’ll find it to be very generous. There are two components to the offer. First, my client wants to purchase your entire marina, including all land, property, and equipment, for a sum of five million dollars. Second, my client will offer you a share of the future developed property. Specifically, you’ll be entitled to five percent of the net profit of the future development the marina will support, for a ten-year period. Note that in the first couple of years, there may be no profit as we further develop the property. But the outer years stand to drive considerable profit. Obviously, we’re prepared to spell out the specific details if you agree to sell.”
Mike thought his face was calm and composed, but he didn’t know for sure. He had expected a solid offer. But $5 million was way above what he could have imagined. Yes, the marina had some good asset value, and it was on a pristine lakefront location, but the offer price was probably a third more than he would have ever expected. Not to mention a share in future profits. It was more than generous. So generous, it made Mike think the lawyer wasn’t sharing everything. How could the buyer ever recoup the purchase costs just by improving the marina? There had to be more to it.
Mike knew he was taking too long to respond. “That’s certainly a generous offer. But it strikes me as overly generous. I’m not sure how someone could justify this price knowing the book value of the marina. What does your buyer have planned that makes the investment worthwhile?”
“I’m not able to share those details at the moment. If you agree to the basic terms of the deal and sign a consent to sell, my client will share the development plans.”
“Really? You expect me to agree to sell my property without knowing what your buyer is planning to do with it?”
“Yes. If you agree to sell, then future decisions regarding the property aren’t yours. Though you will share in the profits of those decisions.”
“I see. But my position is the same. My marina is not for sale. I appreciate your client’s generous offer, but I intend to keep the marina in my family.”
Alex Koffman’s face froze in a mask of contempt, his gaze boring into Mike like a laser. So intense was his look that Mike momentarily felt afraid. He randomly wondered if he should consider keeping a gun in his office.
Alex regained his composure as he stood. “My client will be very disappointed to hear this. This is a life-changing opportunity for you. It’s a shame you can’t see that. I’m quite sure you’ll not see as generous an offer from anyone else.”
Mike still felt somewhat threatened but stood to meet Alex face-to-face. “I’m sure your client can find another great development opportunity. If I learn of anything, I’ll pass it along.”
Mike held out his hand, and Alex took it, but with such a hard grip Mike thought his hand would break.
“My client is skilled at getting what he wants. I’m sure that, given some time, and the right circumstances, we’ll find a solution that satisfies all sides.” With that, Alex Koffman left the marina, leaving Mike to wonder exactly what the hell his last comment meant.
Alice Banfield had seen the well-dressed guest arrive. He was a new face at the marina, and she watched him as he entered the grounds. She was a bit surprised that Mike was waiting to meet him and even more surprised when they headed inside to Mike’s office. Alice knew all the marina’s regular business contacts, and this man wasn’t one of them. And he clearly wasn’t here to interview for a job. The salaries of the few open positions at the marina wouldn’t even be able to cover the wardrobe costs for the visitor.
Alice had made sure Mike didn’t see her follow the men into the building. She had also made sure he didn’t know she went into the room beside his office. There was no way Mike would know that she was trying very hard to hear what was being said between him and his visitor. The problem was that the office walls didn’t allow sound to easily pass through. Alice could hear the men talking but couldn’t make out everything they said.
She closed her eyes and calmed her breathing, concentrating on trying to make out anything. She couldn’t hear complete sentences, but she could catch a few strings of words. In the muddle of what she could pick up was one clear message. The visitor had presented Mike with an offer to buy the marina.
Alex Koffman climbed into his Porsche 911 Turbo and started the engine. Then he made a phone call.
“Yes?” the man on the other end of the line said.
“It’s Alex. Mike Banfield declined the offer. At best, he showed only slight interest.”
There was a pause. “That’s disappointing. Do you think he’ll come around after he thinks about the offer for a day or two?”
“Honestly? No. He really wants nothing to do with selling. But he inquired about the future plans if he were to sell. But, as you said, those details aren’t to be shared with him before he consents to sell. And even then, he wouldn’t know the full scope until it was well underway.”
“It’s not the end of the world. I have a backup plan.”
“I’m sure you do. Remember, it’s in both our best interests if I don’t know the details of that plan.”
“Don’t worry. I know where to draw the line. Let me make a call. I’ll let you know how things proceed.”
“Talk to you soon.”
Nicky Carlucci’s phone showed his boss was calling. “Hey, boss.”
“Nicky. Remember that situation I said might come to pass?”
“I do. Is it time?”
“It is. I need you to get to Copper Lake today. Use the membership we had set up. Make sure our acquaintance is ready to follow through. There will be a boat rented in case you need it.”
“On my way.”
4
I really hate driving.
The drive to the town of Copper Lake took under two hours. Jordan arrived well before dinnertime. The drive should have been faster, but the rain during the first hour forced her to keep her old Subaru just below the speed limit. By the time she arrived, the sky had mostly cleared, setting up a beautiful evening.
Jordan immediately concluded that calling Copper Lake a town was a bit of an overstatement. There was a main street where, for about a half mile, one could find some of the basics. A gas station, a small restaurant, a 7-Eleven, and a few local retail shops. There was one traffic light, but it didn’t seem necessary. She had called the nearest hotel, about ten miles away, on the drive. They had three rooms available and agreed to hold one for her. Apparently, Mondays were busy for hotels out in the country.