MAREMA Monthly Meeting – July 15, 2009
I hope everyone had a good Fourth of July Holiday!
It’s that time to put the MAREMA Monthly Meeting on your calendar. This month’s meeting is a special one. Our Guest Speaker is Richard (Rick) Brown, Principal, B&B Realty Investments, LLC. Rick is an expert in TIC (Tenant in Common) transactions. His topic this month is "Tenant in Common Investments, the Good, the Bad and the Ugly", or "How to prosper and take advantage of this growing part of the industry".
If you aren’t familiar with TIC’s, this is a great opportunity to get up to speed. Learn the benefits of these investments. Remember, your real estate principles class. A Tenant in Common is a type of ownership of real property by two or more persons in which each owns an undivided interest in the whole. Upon the person’s death the property will pass on to their heirs. A TIC may be a good investment alternative for your Clients.
Join us this month and learn the "ins and outs" of investing in Tenant in Common properties. Take advantage of Rick’s expertise in this investing alternative.
Richard W. Brown, CCIM, 59, has been in the real estate business in the Mid Atlantic region for more than 30 years. As an agent, a manager or an owner he has been involved in over $650,000,000 of commercial investment real estate transactions.
He served as a salesman and then the manager of the Shannon & Luchs Co.
Commercial Division and as Regional Director for the Marcus & Millichap Company in Washington D.C., supervising a staff of over 25 investment real estate professionals.
From 2001 to 2004, Rick was the in-house real estate broker for the Reznick, Fedder & Silverman accounting firm in Bethesda, Maryland. Rick advised clients on the sale, development and tax structuring for a multiple number of projects, including 1031 tax deferred exchanges.
In the past 3 years, Rick has specialized in the acquisition, structuring and Co-Sponsorship of Tenant In Common (TIC) transactions.
His closed volume has exceeded $180,000,000. He has handled the acquisition, financial modeling, due diligence, TIC structuring and equity development for 7 properties: 6245 Leesburg Pike, Falls Church, VA, ($23,750,000), One Town Center, Bowie, MD, ($27,500,000), Yellow Breeches, Harrisburg, PA, ($13,500,000), Village Medical Park, Orangeburg, SC, ($14,000,000), Olde Lancaster Town Center, Charlotte, NC ($23,750,000), Pinnacle Point Center, Columbia, SC ($10,400,000) and Alexandria Corporate Park, Alexandria, VA ($57,800,000). Rick is a Co-Sponsor and signatory on loans exceeding $104,000,000 on these properties.
Rick has also advised The DeSanto Realty Group on their entry into the TIC industry. DRG has recently completed their 7th TIC transaction totaling over $150,000,000.
Rick is also an industry leader and has spoken on TIC issues at the National TIC Association Annual Conference, the National CCIM Annual Conference and the NAR National Convention. He served as a local and national director for the National Association of Realtors (NAR) for 12 years and was National Chairman of the NAR Realtors Political Action Committee in 1990. He currently serves on the NAR Federal Taxation Committee.
He was the founder and 5 year Dean of the Washington D.C. Graduate Realtors Institute and has served on the faculty of the Maryland Realtors Institute for more than 25 years. In 1979, he was named as the "Realtor Associate of the Year" by both the Montgomery County Association of Realtors and the Maryland Association of Realtors and in 1990, Rick was named the "Realtor of the Year" by the Washington D.C.
Association of Realtors.
Rick is a graduate of Towson University with a BS in Business Administration.
Richard W. Brown
B&B Realty Investments, LLC
4550 Montgomery Ave.
Bethesda, Maryland 20814
office: 301- 469-3900
Bring your Package Presentations, Quick Pitches and Cash Board items to the meeting and let’s make some deals this month. You can get the appropriate forms on the MAREMA web site athttp://marema.com/agentsonly/PropertyMarketingForm.pdf and http://marema.com/agentsonly/maremapackageform.pdf
Don’t forget to put the MAREMA Annual Meeting on your calendar this year. The meeting is going to be held on October 2-3, 2009 at the Hylton Springfield this year. Get all the details and Registration Form athttp://marema.com/ameeting.html
If you are new to commercial real estate or need a little boost in your career, check out the MAREMA Intern and Mentoring programs. Information is available athttp://marema.com/agentsonly/monly.html
RSVP athttp://marema.com/rsvpmeeting.html to attend the monthly meeting. We need a head count for the luncheon as seats are limited.
Interested in joining MAREMA? Get all the information for joining athttp://marema.com/jmarema.html
Thank you for your membership and support!!!
MAREMA meets the 3rd Wednesday of every month at the Westpark Hotel in Tysons Corner, Virginia except in October. Bring a colleague!Yahoo! Groups Links
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