Last week, our reader The Real Estate Whisperer asked about the health of the TIC loan industry.
TICs apparently have an excellent track record when it comes to foreclosures, according to Henry Jeanes at Sterling Bank—one of the primary TIC lenders. Jeanes confirmed that apart from one TIC owner in Oakland who was heading for foreclosure (which was ultimately avoided), Jeanes isn’t aware of any lenders foreclosing on a TIC interest.
Good news, particularly with the mix of group and fractional loans. Jeanes attributes the loan success to the strict TIC loan requirements.