The problems with First Leaside seem to have started, or were from, exacerbated the purchase of multi – million dollar estate in Texas. Assessments by two independent real estate experts recommend debt in a limited partnership based in the United States exceed the estimated value of the properties by between 30 percent and 40 percent.
Most individual large sums of money large sums of money with the company? an average of $ 290,000 per property in alone, for example.. The Grant Thornton report describes First Leaside as a company with a complex corporate structure? significant relationships between the entities. The majority of First Leaside ‘s investors are accredited, which means they need to invest to have assets other than real estate worth more than $ 1-million.
After two independent reviewers assessed CB Richard Ellis and Joseph J. Blake and Associates, Inc. In the properties of a limited partnership, it was found that the liabilities of U.S. $ 121.6 million exceeding the estimated value of the property portfolio by between U.S. Continue reading