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Performance Disclosure Is Key Issue

Performance is is being discussed more and more among many active participants in the TIC marketplace. Concern about underperforming properties and a general lack of information about many sponsors' performance are the key issues.

By Michelle Napoli | Updated on April 16, 2007

Michelle Napoli is editor of TIC Monthly, from which this article is excerpted.

Salt Lake City—Performance is a topic that is not going away in the TIC marketplace. It is being discussed more and more among many active participants. Concern about underperforming properties and a general lack of information about many sponsors’ performance are the key issues. Now pressure is beginning to mount on several fronts that could change the kind of TIC property track record information that broker-dealers, reps and investors could access.

Particularly for the securitized world–where disclosure is much more than a mere buzzword–practices among sponsors appear to be surprisingly varied when it comes to providing information on past performance, and, if they do, to what extent and in what format. “Currently, it is very, very limited,” says Trent Broderick, director of due diligence for Omni Brokerage Inc. of Salt Lake City. “There are all kinds of levels of reporting in the PPMs. We have some reps who are demanding that we get this information.”

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