Tonti, Kodiak Launch New Start Capital

DALLAS-Tonti Properties and Kodiak Capital Partners LLC have joined forces to form New Start Capital LLC. The new company was created to provide solutions to tenant-in-common ownership groups that face refinancing or foreclosure of their performing or non-performing properties.

As more and more TIC-owned properties approach loan maturity dates, they face two significant roadblocks: first, most lenders refuse to refinance a TIC investment under its current fractional ownership structure; and second, many of these investments, as a result of the economic downturn, are worth less today than their original loan amount and face foreclosure unless TIC investors can make additional cash contributions to cover the value gap.