Success Stories

Buffalo Square

Location:  Las Vegas, Nevada

Client Needs:

Buffalo Square, located in the Summerlin community of Las Vegas, Nevada is a retail power center anchored by a Lowe’s Home Improvement Store. The acquisition of this shopping center by TSG Real Estate, LLC was to represent the first multi-tenant property that was to be sold to Tenant-In-Common investors. TSG Real Estate, LLC has been one of the leaders in the rapidly growing 1031 Exchange/Tenant-In-Common segment of the real estate industry. In fact one of the principals of TSG Real Estate, LLC was instrumental in the development of Revenue Procedure 2002-22, providing public guidance on the issue of tenancy in common ownership in compliance with IRC §1031.

Why RECI:
RECI’s due diligence team was recommended because of their expertise in due diligence of commercial and industrial properties across the nation throughout the 1980s and 1990s. This team includes two of the firm’s senior staff that performed acquisition due diligence on behalf of some of the largest and most-widely recognized real estate investment firms of the 1980s and 1990s.

Solution:
RECI completed its first due diligence engagement for TSG Real Estate in the Fall of 2002 (Buffalo Square Shopping Center). Today, RECI performs a wide range of analytical work for TSG Real Estate, LLC, including deal screening/pre due diligence, acquisition due diligence, appraisals and annual property/market assessments on the growing TSG Real Estate, LLC portfolio. RECI is one of only a few third-party firms performing due diligence in the rapidly growing segment of the real estate industry.