The more I read about this, the more I’m convinced the holdouts were heroes. It definitely appears that all DVD was doing was generating immediate cash for an extension a full generation away. “We will take your $200,000,000 today and 35 years from now we will give you a ground lease extension.” That’s some creative accounting! This is the reason why I get so frustrated with DVD’s complete control over the associations and why I feel those who held out made a bold stand that taught DVD a lesson we should all be thankful for.