March 4, 2016
GLEN ALLEN, VA – “I feel like we’re ending a journey that we started in the late ‘90s,” Louis Rogers, founder and CEO of Capital Square 1031, tells GlobeSt.com. Rogers began that journey as a partner with law firm Hirschler Fleischer, among the pioneers of the tenant-in-common ownership program, and later became president of Triple Net Properties LLC, which became the country’s largest sponsor of securitized 1031 exchanges including TICs.
Today, Capital Square has formed a new team to assist with the restructuring, management, refinancing and sale of challenged real estate, including properties owned by TICs. The impetus is the upcoming 10-year maturities of billions of dollars in CMBS debt backed by TIC-owned real estate. Those securitizations were the culmination of a ramping-up of interest in TICs spurred by a 2002 Internal Revenue Service ruling that acknowledged the TIC structure.
- On March 5, 2016