The letter we got this week states our bond is at 5.375%. "Lucky us!"
I believe we've got 26 more years left on it.
That's not too bad a rate, though.
If I felt that we were going to keep this particular TV property long-term, we'd pay the bond off now - no question. That not being the case, our current thinking is that we'll just roll along for the next few years and pay the annual amount as we go.
It's never made sense to me that the prevailing (though not absolute) philosophy seems to be that a seller won't be able to recoup the amount of their paid off bond when the property is sold. It is illogical/counterintuitive/whatever - but it is what it is, at least for now. Maybe the mentality will change after the build-out is complete.
Or maybe Publishers Clearing House will stop by our place soon with the "Big Check".............
Bill