That's an exceptional find by your friend. My first foray into open-reel was about 14 years ago. Similar story, as I saw two R2Rs at the local mini flea market. I bought the first one for $50 and headed back to pick up the 2nd one the same day, but it had already sold. The one I got was an Akai GX-747, and the other was a 10.5 Teac, but I can't remember the model #. I later found out who bought it and he is someone I worked with in the past.
I sold the GX-747 for good coin a few years back to fund another vintage audio component.
Nothing beats having a big 10.5" open-reel deck humping along at 15 i.p.s.. I recently upgraded to a Pioneer RT-2044.
Good luck on your next purchase, Perry. I'm sure you will find something that meets your expectations.
Nando.