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Welton Street Secures $14.4 Million of Growth Capital : Investment by FTVentures to Expand Tax-Efficient Real Estate Investment Product Development
DENVER (Business Wire EON) July 8, 2008 -- The growth equity investment will be used to expand the distribution of the Life Income Funds of America and Tenant-in-Common (TIC) securities, products which help investors deal with appreciated real estate.
Welton Street is the Managing Broker/Dealer and distributor of the Life Income Funds of America. Through the distribution of the Life Income Funds, Welton Street provides owners of appreciated real estate with a viable exit strategy, a charitable tax deduction, potential elimination of capital gains tax, income for life through investments in mutual funds selected for their disciplined investment process, and the ability to support multiple nonprofit organizations. The Life Income Funds, established by the Philanthropy Fund of America, are the nation's only Pooled Income Funds (under IRC Section 642(c)(5)) that focus on accepting real estate donations. Welton Street distributes through a selling group of FINRA member firms including wirehouse, regional, independent and bank broker/dealers.
In addition to the Life Income Funds, Welton Street specializes in 1031 like-kind exchanges and Tenant-In-Common (TIC) securities. TICs provide owners of highly appreciated real estate with a viable exit strategy, capital gains tax deferral, and the ability to own an undivided fractional interest in institutional-quality properties. TICs have become a preferred investment vehicle for real property investors desiring to defer capital gains via a 1031 exchange and own real property without many of the management responsibilities of owning the entire asset. Welton Street employs extensive due diligence capabilities to evaluate the products and wholesaling capabilities to aid in their distribution.
"Welton Street provides turnkey real estate solutions to the world's leading financial institutions, many of whom are FTVentures' strategic investors, to help their clients efficiently deal with appreciated real estate," said Ben Cukier, Partner with FTVentures and new Welton Street Board Member. "We are excited to join forces with Welton Street because of the company's success and momentum in productizing a solution that offers financial institutions with the ability to provide advice to clients on their real estate holdings, often the largest asset in their portfolio, as part of a more holistic approach to portfolio management."
About FTVentures
FTVentures provides growth capital to companies seeking to finance organic expansion, recapitalizations, build-ups and buyouts. The firm invests in software and business services companies that derive value from its unmatched Global Partner Network, which includes many of the world's leading financial institutions. FTVentures' Global Partner Network provides the firm with a unique vantage point into the business-driven IT and operating challenges of the global enterprise. Founded in 1998, FTVentures currently has over $1 billion under management and offices in San Francisco and New York. For more information, please visit www.ftventures.com.
About Welton Street
Welton Street Holdings LLC and its affiliates specialize in the development, distribution and asset management of tax-efficient real estate investment products. Welton Street provides Broker/Dealers, Financial Advisors, Real Estate Professionals and Nonprofit Organizations with access to products and services that provide tax-efficient solutions for their clients' largest asset class, real estate. Welton Street's primary products are Tenant-in-Common Investments (TICs) and Pooled Income Funds (PIFs). Welton Street was founded in 2004 by CEO Mark Quam, who brings a unique combination of real estate and securities distribution expertise. In addition to Mr. Quam, the senior management of Welton Street has significant real estate due diligence, structured finance and sales distribution experience. Welton Street is located in Denver and is exclusively backed by FTVentures. For more information, please visit www.weltonstreet.com.
Securities offered through Welton Street Investments LLC, member FINRA/SIPC, 4600 S. Syracuse Street, Suite 530, Denver, CO 80237, 888-569-1031. This is neither an offer to sell nor a solicitation of an offer to buy a security. Such an offer may only be made by means of a private placement memorandum. As with any real estate investment, there are various risks including, but not limited to: loss of principal, variations in occupancy which may negatively impact cash flow, limited liquidity, and limits on management control of the property.
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