You are right smallbear, no bank will fund the whole deal. That...

You are right smallbear, no bank will fund the whole deal. That implies 100% gearing.

Instead the funding mechanisms include
: Script - Run is taking partial script
: Cash - Run is taking an initial deposit
: Bank Funding - stating the obvious
: Intra party loans - get used to this as part of the HAL deal.

Yes it might appear HAL and REX have stars in the eyes, but so far they have managed to convince a number of agents including the biggest real estate firms in the country to get together. I think you are being very short sighted in terms of the scope of the network.

Firstly its in Runs interest for it to succeed, I have no doubt that the directors of Run would chip into the HAL pot to assist the purchase, why - because Run has been a dog for since the day it listed and they want a payday more than anyone. The same goes for Chris Rolls but in reverse. A smart operator who has built a business on the smell of an oily rag, the total opposite of Run. Then there are the agents that have thrown in their businesses for script and a pittance in cash.

The will of many is driving this puppy. Its in the interests of all Run shareholders to make this thing succeed and there are a number of them.