Trust me, after 10 years in the casino industry, I can testify to that.  

Commercial loan (6 unit multifamily) with first 5 years at 3.65% and years 6 - 10 adjusting with the treasury rate but not to exceed 5.65%.

Here is your states business filing info- looks like it'll run you $125http://www.state.nj.us/treasury/revenue/filecerts.shtml

New Casino/development along I-295.

Complaints from sellers that didn't close, boohoo. they still have the property and they took a chance, these are the same people who if they lost a quarter in a slot machine would insist the casino give it back because the didn't win.

So you had every car dealer in the South build new facilities all those Casino's that got build in MS Gulf shores they got the depreciation..

Since this is being done within an LLC (as it should), and since there are different classes of membership interests (2 that I can ascertain), there are multiple factors to work out, some of which apply even when there's just one class of membership interest:How initial capital contributions, for each given class, are booked.How subsequent capital contributions, if any, for each given class, are booked.How member loans are booked.How each member's capital account will be handled pursuant to Treasury Regulation §1.704-1(b)(2)(iv), and how reevaluation of said accounts will take place per Treasury Regulation §1.704-1(b)(2)(iv)(f), to conform with §1.704-1(b)(2)(iv)(g).How distributions will be allocated, including profits and losses, along with any resulting adjustment of percentage interests.How tax allocations will be handled - and if the book value of any company property is adjusted per Treasury Regulation §1.704-3, how that affects member allocations.I have not even covered every item that must be addressed (including voting rights, depreciation allocation, cash flow vs liquidation allocations (as in "when we sell a property - who gets how much of the appreciation, but what about the recapture, etc, etc.")).Insufficient information... and it's time to meet my wife for dinner.

Put another way, if the IRS sees a transaction as a sale, then so does the CFPB, HUD, TILA, the ALTA folks, FDIC, Treasury, AAI, Fannie and her friends, if it's taxed as a sale, it's a sale.

My $0.02; Cap rates are really a gross measure, it is the 1st level of analysis that you do in your head to figure out if you should turn the page and read more about it.Bethlehem has nice areas (downtown, near moravian etc) and some bad areas.. south side near the casino (well maybe that is not quite "bad" but it is a certain apatite) or as you get closer to Allentown. 

The stadium project also includes homes, a city park, a hotel, commercial development, and a new casino.