Tuesday, March 22, 2011
Axxcess Capital and Winthrop Realty Trust to Provide Liquidity for Sponsors, Managers and Investors in Fractional Ownership Structures
NEWPORT BEACH, CA. (Mar. 22, 2011) –Axxcess Capital Ventures, LLC today announced an agreement with Winthrop Realty Trust (NYSE: FUR) to provide liquidity for acquiring sponsors, managers, and investor interests in fractional ownership structures including Tenant in Common investments, Delaware Statutory Trusts (DST’s) and private non-traded real estate investment trusts (REITS).
Axxcess, together with Winthrop, plans to provide solutions for companies and investors that require capital, expertise, and institutional management for fractional ownership structures.
Through its agreement with Winthrop, Axxcess will now have the ability to bring an array of capital sources, structuring knowledge, and management expertise to create tax-efficient solutions for sponsors and investors.
“We spoke to several potential partners, and Winthrop was the best fit for several reasons-- leadership, capital sourcing, and asset management capabilities,” says Dick Gee, chairman of Axxcess Capital.
Demand Grows for Capital and Expertise in Fractional Ownership Structures
"We have positioned ourselves so that we can provide options for cash strapped operators and investors, that may not be unable to provide the capital necessary to enable the property to succeed in a tough market," says Tim Snodgrass, president of Axxcess Capital.
"Success may turn on the venture’s ability to work with lenders to reposition the property, while concurrently injecting capital and providing strong management," says Snodgrass. “To accomplish this, it takes an entity with institutional leadership, relationships, creativity, and unparalleled trust in the community.”
Fractional ownership structures are generally more complex than typical ownership structures and have a unique set of parameters distinguishing them from other types of ownership structures.
“Understanding how all these parts interact, and how to navigate through them to provide an acceptable outcome for every situation, is the difference with this team,” says Eli Spiro, chief executive officer of Axxcess.
“The fractional ownership market today calls for a company and partner that can successfully address the needs of lenders, investors, and asset managers. We have the unique ability to work with all parties, from acquiring large corporate entities, to individual investors.
“Through our experience in this industry, and the strength of Winthrop, collectively we have the experience, capital, and transparency to overcome all obstacles in these types of transactions,” says Axxcess’ COO Craig Morris.
Friedman, Billings and Ramsey (NYSE: FBR) represented Axxcess Capital in the transaction.
Access Capital, LLC, based in Newport Beach, CA with offices in New York and San Diego, provides uncompromised advisory services in alternative investments, wealth building, real estate client services and acquisitions for institutions, corporations, individuals and foundations. Visit www.axxcesscapital.com.
Press Contact: Chris Barnett for Axxcess Capital LLC, 415-921-5092 or firstname.lastname@example.org