Skip to main content

APOG Demands to Klein Group

Klein Group now has a copy of the proposed listing agreement drafted by Ed Wilson at the direction of the APOG Steering Committee. It is available to all owners from their office,

I have looked at it. I am afraid that rather than moving the process forward, it is designed to encourage failure and further conflict. For those of you (and your neighbors) that contributed to the APOG with the idea that their Steering Committee would be securing representation for you, that does not quite seem to be the case.

Members of the Steering Committee have clearly given instructions to Ed Wilson on the drafting, and the document certainly reflects their interests. However, their interests are not the same as those of other owners, whether they be resident owners, investor owners or commercial owners.

There are a few points of clarification and confirmation that I doubt Klein Group will have a problem with and can be incorporated into the existing Listing Agreement.

However, there are many far more serious structural changes to the agreement that are being demanded. While I am confident that Klein will not go along with those, I am absolutely certain that I will not nor should any other owner – whether they have already signed a listing agreement with Klein Group or not.

Because of the complexity of the agreement, I am happy to meet again in small group settings to review this proposal with other owners. If anyone wishes to do so, please let me know.

Unfortunately, my original recommendation remains correct: Owners should seek advice from their own attorney, one without a conflict of interest that represents only your interests.

Reminder: apply to join our private Facebook Group at: https://www.facebook.com/groups/OfficialAPAC/

Comments

Post a Comment

Popular posts from this blog

Welcome to the official Anchor Point Assembly Committee blog!

TO ALL OWNERS IN THE ANCHOR POINT TOWERS: At the recent Anchor Point BBQ presentation, we were asked to speak as an “owners panel” as we cover a cross section of owner interests as our panel of 3 owners include residents, investors and commercial business owners across all three towers. At the presentation, we explained to the other owners at the meeting why we had decided to sign Listing Agreements with Klein Group. The feedback at and after the BBQ event was that our owners panel was helpful in explaining our decision to other owners, clarifying questions and encouraging dialogue. We were asked by several owners to continue to provide help and leadership going forward with the assembly process. Therefore, we have organized ourselves into the official Anchor Point Assembly Committee (APAC) .  We are dedicated to moving the assembly transaction forward in a positive way without aggression.  We invite all owners who have signed Listing Agreements with Klein ...
4 comments
Read more

Michelle Yu Group and the APOG Letter

I received an email forwarded from a member of this group from the APOG steering committee, the APSC. The message is that they have located another broker, the Michelle Yu Group, willing to do a land assembly at a lower commission rate than the Klein Group. I do not have a copy of the listing agreement from the Yu Group, but I have requested one. Until I have seen the actual agreement, I cannot be certain of its contents. However, in the email from the APSC, it says that the listing agreement with the Yu Group follows the APSC proposal sent to Klein by Ed Wilson, the APSC attorney. The discussion below is based on the APSC proposal. If the substance of that proposal is not what is sent out by the Yu Group, then these comments will be updated as appropriate. In short, be wary. The email states that the basic provisions are a land assembly at a lower commission rate and a shorter term. The listing amount is higher but that is fundamentally irrelevant – it is sim...
Post a Comment
Read more