April 11, 2008 | Vol. 4 No. 4

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Volume 4 - Number 4 | April 11, 2008

TOP STORY: Timeline for NAR Exemption No Clearer
By Michelle Napoli
If the more than 700 attendees at last month’s Tenant-in-Common Association Spring Symposium hoped to get a sense of just when the TIC-specific exemption from broker-dealer registration for commercial real estate brokers might be approved by the Securities and Exchange Commission, they left the event with no clear cut answer.

Insider: The California Trilogy
By Darryl Steinhause
The California Franchise Tax Board stated it would be taking a closer look at TIC arrangements and expressed concern that it had identified a number of TIC transactions where the property interests exchanged were more closely aligned with a partnership interest rather than a TIC interest in real property.

Okun Indicted, Accused of Using Exchange Funds for ‘Lavish Lifestyle’
By Michelle Napoli
A federal grand jury has indicted Edward H. Okun, 57, the owner of qualified intermediary company 1031 Tax Group, on three charges--one count each of mail fraud, bulk cash smuggling and making false statements.

TICA Report: Recourse Creeping in on TIC Debt
By Michelle Napoli
As far as CMBS lending is concerned, “there’s virtually nobody out there doing business,” CBRE Capital Markets Keith Braddish told the “Finding Debt” panel at last month’s Tenant-in-Common Association Spring Symposium.

Total Equity Raise Down in ’07, Hospitality Assets Grow in Popularity
By Michelle Napoli

Rep’s Corner: 1031 Alternatives Group’s C. Grant Conness
By Michelle Napoli

DataPoints: Large Markets Top 1031 Exchange Density Pockets

Short Takes: RealShare TIC Returns on June 3

Recent Transactions: Cohen Arranges Three-Year Loan for Passco Deal