May 10, 2005 | Vol. 1 No. 5

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Volume 1 - Number 5 | May 10, 2005

TICM Exclusive: Sponsor Seeks to Eliminate So-Called Phantom Profit Centers
By Michelle Napoli
Starting with its next deal—an office property in Texas that should be hitting the street right about now—TIC Properties LLC's offering documents will feature a new “streamlined use of proceeds page” as well as the elimination of a real estate commission paid to the sponsor. While what has evolved into phantom income entries in TIC offerings has become standard and accepted practice, TIC Properties president Trevor L. Gordon says that his company is eliminating those costs, and hopes that other sponsors will follow suit.

RealShare Report: Conference Coverage
By Michelle Napoli
Talk of the tenant-in-common business peppered the day-long RealShare Net Lease conference in Manhattan on May 3—no surprise given the industry's rise among 1031 exchange investors who might otherwise chase more traditional sole-ownership single-tenant deals.

Finance Series Part IV: Potential Uses of Mezzanine Financing
By Michelle Napoli
Avalon Development Co. is not your typical TIC sponsor in that the tenant-in-common transactions it puts together are usually the result of pairing up two 1031 exchange clients when one isn't able to buy a desired property on its own. But a recent deal put together by the Honolulu company is an interesting example of one potential use of mezzanine financing for TIC structured transactions.

Insider: Today's Real Estate Market, Tomorrow's TIC Future
By Trevor Gordon
What should tenant-in-common investment sponsors be thinking about as they make investment decisions in today's property market? In this exclusive guest column, Trevor L. Gordon, president of Greenville, SC-based TIC Properties LLC and a member of TIC Monthly's editorial advisory board, offers his thoughts.

Q&A: Exchange Point Properties' Mark Forman
By Stacey Corso

DataPoints: Q1 2005 Securitized TIC Industry Equity Closed

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