Fractional Dutch Auctions of Commercial Income-Producing Real Estate Properties - TIC Plan Ownership Syndications

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Due Diligence Documentation "Exhibit D-2"

Developer Firm Profile

The following notes are provided pertaining to this exhibit:

  1. What: for the benefit of the syndicate purchasers/investors/buyers, the Owner must demonstrate due diligence was undertaken regarding the selection of the Developer.  If the Owner is also the Developer, the disclosure requirement is not waived.

  2. When: this information is provided from the outset.

  3. Why: due consideration must be given to the skill sets of the Developer.  If the Developer has insufficient project experience, then a joint-venture is sometimes required, while at other times the hiring of the Development Manager may suffice if the Development Manager has extensive experience and expertise in commercial real estate projects that are essentially similar to the project currently under consideration.

  4. Where: transmitted from the Developer's offices and at the commencement of the pre-construction phase.

  5. How: via electronic file format.

  6. What's important: the Developer's team should have strong experience in completing the development of commercial real estate projects of similar cost and scope.

  7. This exhibit is not required for syndications of existing properties that do not contemplate any new construction.

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