http://www.peii.net PEII Release RSS feed. . Copyright 2005, PEII Tendenci Membership Management Software by Schipul - The Web Marketing Company en-us noemail@peii.net Thu, 09 Sep 2010 15:20:54 GMT Release http://www.peii.net/en/rel/3/ The former headquarters building for Service Merchandise has changed hands twice in recent weeks. The Cool Springs Commons building, located at 7100 Commerce Way in Brentwood, was sold by Kirkland Properties LLC in April for $40.3 million to Principle Equity Management, a privately owned real estate investment company based in Houston. This month, the building was sold again as PEM completed a tenant-in-common, or TIC, transaction in which it was transferred to 35 investors. The new sale price was $46.4 million. In a TIC sale, investors with limited funds can buy shares in a single large property, rather than buying a less-expensive property outright. The mechanism is useful in transactions known as 1031 exchanges, in which investors sell a property and can defer capital gains taxes by purchasing a replacement property - such as shares in the Cool Springs building. Principle Equity, the Houston company, specializes in sponsoring such transactions, by identifying suitable... http://www.peii.net/en/rel/3/ noemail@peii.net Fri, 09 Jun 2006 17:15:00 GMT