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

Due Diligence Documentation "Exhibit F-10"

Project Accounting Firm Profile

The following notes are provided pertaining to this exhibit:

What: the proposed Project will entail the investment of millions of dollars and these funds must be accounted for at all times. Accordingly, the Developer will retain the services of a certified public accountant for the purposes of providing accounting and tax filings for the Sponsor.
When: the Project Accountant is retained once the market feasibility study is complete (see Exhibit F-3), the pro forma financial presentation is complete (see Exhibit F-5), the Project Site is under contract (see Exhibit P-11) and the Sponsor legal entity has been incorporated and registered (see Exhibit L-1 and Exhibit L-2).
Why: all of the key stakeholders in the proposed Project have an interest in safeguarding the finances of the Project ownership entity and providing sound business management of the funds in the care of the Sponsor.
Where: reports are kept by the Developer and are electronic files that are available for downloading.
How: the Project Accountant is responsible for providing an accounting of the funds of the Sponsor at all times and to provide approvals for all construction phase mortgage financing loan draws submitted by the Design/Builder for construction program items and individual vendors and/or contractors for those soft cost items that are not part of the Design/Builder's responsibility.
What's important: safeguarding the funds of the Sponsor entity and providing complete financial transparency of all accounting information.

For more information, please contact us at 832.659.5009 or via email at info@realestateplays.com.

Send mail to info@realestateplays.com with questions or comments about this web site.

15519 Dawnbrook Drive, Houston, Texas 77068

Telephone: 832.659.5009

Fax: 206.600.5310