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Volume 2 - Number 9 | September 12, 2006
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TOP STORY: Underperforming Deals Take Center Stage
By Michelle Napoli
One of the topics the Tenant-in-Common Association will discuss at its annual conference in Las Vegas next month is “What Happens When a Deal Goes South?” While the notion of underperforming assets may not be a pleasant topic to dwell on, it brings up important issues such as underwriting assumptions and investor communications that have the potential to affect the success or failure of a sponsor's business and the long-term good standing of the industry.
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Inland Exchange Teams With REIT Affiliate
By Michelle Napoli
Tenant-in-common investment sponsor Inland Real Estate Exchange Corp. (IREX) has teamed up with affiliated REIT Inland Real Estate Corp. (IRC) in a joint venture that could significantly increase the volume of its 1031 exchange offerings. While it is a little premature to quantify just how much growth there will be, Inland Exchange president Patricia DelRosso tells TIC Monthly “I believe we probably could double what we do. That’s the goal.”
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Insider: Oak Real Estate Investment Fund’s Michael J. Antonoplos
By Michelle Napoli
Michael J. Antonoplos, a principal of the recently formed Oak Real Estate Investment Fund, discusses TIC market demand for mezzanine finance and what his fund seeks to target. The Oak Real Estate mezzanine fund was formed about five months ago and looks to appeal to tenant-in-common sponsors that are acquiring property in the $15 million to $30 million range.
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Sponsor Upclose: CORE Realty Holdings LLC
By Michelle Napoli
As a TIC sponsor, CORE Realty Holdings LLC brings together the TIC and real estate acquisitions market experience of its founding executives, William “Russ” Colvin and Sterling McGregor, with the leadership and reputation within the Southern California real estate community of chairman John Saunders (one of the largest property owners in Orange County) and vice chairman Douglas Morehead.
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