That is kind of where I think this is headed. $.005 does not sound like much by way of earnings. Yet if you put a 10X or 20X multiple on that you have $.05 to $.10. We are still talking pennies but we are also talking about a 400% to 900% gain. I am not that well versed in REITs either. I believe they have to pay out 90% of their earnings. I am not surprised all of those buildings are set up as LLCs. If something goes horribly wrong with one building you do not want the entire company exposed to liability. They will also be operating in multiple states each with their own rules and regulations.
There are also tax implications as a New York based company. If they pick up the two buildings in South Carolina and two in Florida they will be limited to two states at this time.
Fortunately through Summit and now Granite Group they know through experience which are the most favorable states in which to do business. I have not started to look at the county records but I anm sure this is all tied together somehow.
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