Tenant-In-Common Programs (“TICs”) are generally considered illiquid securities. There is no secondary market, or a very limited secondary market for most products, re-sales may only be possible at a significant discount. To sell a TIC you should contact the Broker/Dealer with whom you did the transaction, the Managing Broker/Dealer of the Sponsor, or the Program Sponsor directly. TICs may be speculative and require a high level of due diligence, you should consult your own tax consultant, attorney and/or investment advisor for assistance. Cash flows and returns are not guaranteed and may be lower than anticipated based on a number of economic factors. Significant fees and high sales loads may offset your tax savings, these fees are often built into the sell price to accommodate 1031 exchange program requirements. Unfavorable tax rulings or legislation may impact, reduce or cancel the deferral of capital gains tax. TICs involve a loss of day-to-day management control over your property. TICs are subject to the usual risks of most real estate transactions and may be impacted by interest rates and the balance of supply and demand. Most TICs are available to accredited investors only and only in jurisdictions where the security is registered or exempt. To check whether you qualify as an accredited investor, please contact us at (800) 723-1031 toll free.

TICs and most Direct Participation Programs (DPPs) are exempt and not subject to registration under the SEC, and as so their oversight is not available for your protection. Facts or information presented herein may have been furnished by the sponsor; this firm is not responsible for verifying the accuracy of this information and must disclaim responsibility for its accuracy. Although Direct Capital Securities conducts internal due diligence on each product, much of the information that forms the basis of our analysis is supplied by the sponsor. This is neither an offer to sell nor a solicitation of an offer to buy any security. Offering facts and terms are controlled by the final Private Placement Memorandum (“PPM”) only, which must be distributed before many aspects of the transaction can be discussed. All investments and tax strategies have potential risks, you must discuss and determine whether the risk/reward factors of each program are suitable for your investment strategy and economic situation. As an investor you should never invest more than you can afford to lose. Past performance and/or forward statements are never an assurance of future results; many TIC programs are dealing with long-term investments that may already have a proven record of return, but future earnings cannot be guaranteed. There is no guarantee that securities described herein will be offered by a particular time, or at all.

IRS Circular 230 Disclosure: Direct Capital Securities, Inc. and its representatives and assigns do not give tax, legal or accounting advice; nothing herein should be construed as such.

Accordingly, please be advised that any discussion of tax matters contained within this communication (including any attachments) is not intended or written to be used and cannot be used for the purpose of (i) avoiding tax related penalties or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.