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Friday, July 31, 2015

Cumulus Could Get $95 Million For Property

Cumulus Could Get $95 Million For Property
Jul 30th 2015, 20:16
Luxury homebuilder Toll Brothers is conducting due diligence on the property, which should take about 60 days. Cumulus is hoping to net between $85 and $95 million on the 75 acres in Bethesda, home to WMAL-AM. Cumulus says a deal with Toll Brothers was struck on July 8 and the plan needs to be approved by the local planning commission. Cumulus has a $10 million kicker if Toll brothers is able to build a certain number of units in 2017. READ MORE