Chapter 71 - A Second Valuation
Moretti Capital's independent directors commissioned a fresh valuation from advisers unconnected to Alden's preferred firm. The new assessment was lower than the public rumor had predicted, but not catastrophic.
Adrian sounded almost disappointed when he told me.
“You wanted a clean villain,” I said.
“I wanted to know how much was manipulated.”
“And now?”
“Now I have a more accurate number and less patience for theatrics.”
The advisers had factored in development contingencies, slower lease-up, and possible infrastructure work. None of those items automatically invalidated the acquisition. They changed how much it was worth.
I thought about the city examiner requesting another groundwater appendix. The boring engineering note could move millions of dollars without becoming evidence of a crime. That was precisely why pretending it didn't exist was dangerous.
When Adrian asked what I thought, I answered as an architect: “Use the number that reflects the work required. Then decide whether the project still makes sense.”
May you like
He was quiet. “That's what Elena would have said.”
I knew he meant his sister. For once, the memory seemed to steady him rather than become another pressure he had to hide.
