Like many of our real estate investments, Garden City Plaza has the potential to be repositioned
as one of the area's elite office centers," asserted Ms.
Cuss, managing director at Sonnenblick-Goldman Company, said that "both parties recognized that the value of these properties would greatly increase if they were renovated, repositioned
, and reflagged.
Similar to development stage in-licensing deals, the terms of the agreement provide for success-based milestones per compound and royalties on the commercialization of drugs repositioned through Gene Logic's Drug Repositioning Program.
Our goal with the drug repositioning business is to provide substantial value to our clients, and in return, share in the long-term success of their repositioned drugs through milestone and royalty payments.
PICC lines frequently need to be repositioned
before proceeding with the administration of the drug or nutrition therapy.
Yet economically, these properties have the potential to offer us an excellent rate of return when they are repositioned
and managed properly in their perspective market.
As a result of the transitioning of executive management during the last few quarters of fiscal 2003, and the review process conducted during the exploration of a possible sale of shares of the Company, the strategy and focus of the Company is being repositioned.
The Company's RBS and Foreign Operations are being repositioned to focus on the primary building products that the Company has to offer, with the Royal Building System being positioned as one of many products in the line-up.
The Company's various building products are being repositioned to focus on home improvement products and certain niche profitable consumer and construction products.
Since that time, the building was upgraded and repositioned
, enabling the Company to realize a gain of approximately $20 million.