Larry H. Miller

by Keleher on August 12, 2009

Larry H. Miller

Mae Keleher’s father worked for the railroad. When he died he left a pension of $600 to his daughter that William Keleher invested in an uninhabited and desolate parcel of land east of Old Town Albuquerque that many years later became Lomas and Wyoming. Wyoming became the main traffic arterial for the Sandia National Laboratory.
Monday October 12, 2009 marks the final chapter for an Albuquerque New Mexico auto dealership and has touched off speculation amongst Albuquerque Attorneys that the since purchased by William Keleher free and clear land that has been in the Family for generations has been lost by James Rogers Jr. who is the new President of Bosque Redondo Development Corporation which owned the land for many, many years.
Speaking on the condition of anonymity, one Automotive Dealership Attorney has told that he speculates the new deal with notorious homophobe Larry H. Miller was done on a temporary but significantly reduced rent with an extremely favorable option to Larry H. Miller to end up with the land. The Automotive Dealership Attorney went on to say that he does not believe that there is any chance whatsoever that the Larry H. Miller Automotive Group as the owner of 39 automotive dealerships throughout the Western United States would entertain a transaction that would not include a purchase of the land or to at least potentially pick up the title and the outstanding debt on the property in the very near future. The property was reportedly heavily leveraged in a buyout representing half of the former owners at the top of the market just before the crash in Albuquerque Commercial Property prices. He elaborated that the debt is also the subject of concern for two reasons. Because of the simultaneous adjusted loan to value ratio skyrocketing due to plummeting Albuquerque Commercial Property prices in conjunction with the abrupt Ken Zangara Dodge closure. The Automotive Dealership Attorney theorized that the cessation of rent due to the Zangara closure would have rendered the new owners of the property incapable to make their debt service. The Automotive Dealership Attorney declined to speculate whether or not he felt that the property was in foreclosure proceedings. In any event the Automotive Dealership Attorney stated clearly that he believes that title to the land has or is about to change hands whether it be for a significantly reduced purchase price, fire sale assumption or a very favorable option to purchase in the near future.

Leave a Comment

Previous post:

Next post: