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Who are they?
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What real estate experience do they have?
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Are they pre-capitalized?
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What are the assets in the offering?
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Who are the tenants and what are the lease details?
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What is happening in the market and the submarket?
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Is the Sponsor a syndicator ("raises equity")?
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Does the Sponsor acquire property prior to sale to TIC investors (pre-capitalized)?
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Has the due diligence been completed?
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Who renders the tax opinion?
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What is the "Level" of the tax opinion?
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May the initial investors rely upon tax opinion?
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Is their product offered as securities (with a PPM) or real estate?
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What are the ramifications of how the product is offered?
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Which form (security or real estate) do most product providers use?
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