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So i guess the risk is that if the project folds you have no recourse and no title. Great deal if all goes well (hard to argue with those prices) but that is what held me back from looking at it further.

MTR - they would be sites for multis, not grouped. Rixter - how was this structured? Do you have to pay the full 50% now? I also went to that talk where he mentioned this deal but did not follow up.

Thanks for the update. I went to the previous one but not this one. Re Macro, yes they also develop up north. Re Hillman, do you mean Hilton?