Boca Raton, FL, Oct 9, 2018: QuickLiquidity, a private equity firm investing in commercial real estate nationwide, has announced that it has purchased a minority interest position in an existing real estate partnership. The partnership owns a tenants-in-common (TIC) interest in a 424-unit luxury apartment community in Rochester Hills, MI.
The partnership was formed in the early 1990s as a commercial real estate syndication. One of the original investors had recently passed away and his two sons became the executors of his estate. The brothers wanted to sell the limited partnership interest in order to get immediate liquidity and close out their father’s estate. The brothers reached out to QuickLiquidity and had received a competitively priced offer within days of submitting the necessary information to underwrite the property and the partnership. QuickLiquidity then worked with the brothers and the general partner to ensure the transfer was done in full compliance with the partnership agreement.
“We’re excited to add this limited partnership interest to our growing portfolio of commercial real estate debt and equity investments,” states A. Yoni Miller, Principal of QuickLiquidity. "We have a tremendous amount of experience with purchasing and lending against minority interest positions in commercial real estate partnerships, which allows us to understand and close complicated transactions quickly.”
With QuickLiquidity coming in as a new limited partner, the seller was able to receive immediate liquidity without having to wait until the apartment community is sold, which might not occur for many years.
QuickLiquidity explains that some of the reasons a limited partner might want to sell their interest could be a personal cash-flow pinch, a diversion of interests between the partners, or to simplify the limited partners tax return and estate planning.
When life presents unpredictable situations and liquidity is needed, limited partners can turn to QuickLiquidity for an immediate exit strategy. QuickLiquidity is a direct buyer and lender against partial interest positions in commercial real estate LLCs, LPs, TICS, and DSTs.
Have questions or a potential deal? Call us right now at 561-221-0881.
