Everest’s goal is to align our interest with those of TIC investors. Everest is familiar with the challenges of operating within the TIC structure and the issues that confront TICs, including the illiquidity of TIC interests. Many sponsors of TIC deals do not provide adequate communications to their investors, nor are they providing adequate asset management of the TIC-owned properties. When a property needs capital, the TICs may be reluctant to commit more capital to the property, and the original sponsor may not have the funds to provide additional capital. Everest has solutions to these and other TIC problems.
Everest solutions include providing expertise and capital when needed by:
Purchasing individual Tenant in Common interests
Everest will purchase individual Tenant in Common interest when investors need to sell their TIC interests for such reasons as:
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Providing Asset Management Services
Everest’s goal is to provide superior asset management services for TICs. Everest’s references include satisfied TICs and their financial representatives. Everest manages investor-owned assets exactly the same as it does Everest-owned assets, with the same asset managers. Currently, Everest owns and manages a growing portfolio of over $250 million in real estate across the country. The Everest portfolio has low leverage and significant cash flow, allowing Everest to provide intense asset management to support those investor-owned assets which need extra attention. Everest can charge reasonable fees for the asset management service as Everest is not dependent on these fees for its livelihood, as are most sponsors, asset managers, and property managers. Everest believes that satisfied TICs will act as future referrals to those in need of strong asset management and when new capital is needed.
Investing Capital with Tenants in Common
Everest invests capital in support of the current owners’ and provides back up equity capital for those owners who are reluctant to invest additional capital. Everest does not make long term loans at high rates. Everest co-invests at-risk equity with the current owners, and Everest’s capital has the same preferred return as the capital contributed by the current owners.
Events which may require additional capital:
- Refinance
- Repairs and Maintenance
- Tenant Improvements
- Leasing Commissions
- Negative Cash Flow
Contact us for more information on how Everest solutions can benefit you as a Tenant in Common owner. TIC references are available upon your request.