Sunday, November 16, 2008

DBSI In The WSJ...Again
I tried to take a news moratorium this weekend. But checking tomorrow's headlines quickly brought me back to reality . Here is a detailed article in the Wall Street Journal on DBSI and the tenant in common industry. I don't think it sheds anything new on the situation. Here is one take away to look forward to:
Before anything can be settled, DBSI's investors are left to deal with one of the hairiest legal unravelings in real-estate history. "This will be an order of magnitude that has not been seen in terms of the complexity," says Bradley Williams of Best & Flanagan LLP, a Minneapolis law firm that represents a lender who holds mortgages on some DBSI managed properties. Each TIC investment, which owns a single building, contains as many as 35 investors who must make all major decisions unanimously.

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