Mammoth Equities Closes $13M TIC Purchase

Colvin tells GlobeSt.com that the purchase is the first under the TIC structure for Mammoth Equities Capital Group, which is an entity of Mammoth Equities. However, Mammoth has a history of acquiring properties in 1031 Exchanges, and the company also has other TIC deals in the pipeline. The company plans to continue acquiring properties both via the TIC structure and in 1031 Exchanges that are not TIC deals.

The Mammoth Professional Office Building, on a 17-acre parcel at 20532 El Toro Rd., was built in 2001 and was 93% leased by a roster of 37 tenants at the time of the sale. Mammoth Equities developed the three-story building and is one of 13 tenant in common investors that acquired the property in the recent sale. Colvin says that except for Mammoth, which is not in a 1031 Exchange, all 12 of the other investors are in 1031 Exchanges from a variety of types of properties in Southern California.

Mammoth Equities is an integrated real estate investment firm that develops, acquires and manages multi-tenant office and industrial properties throughout the Southwestern US. The firm founded by Robert L. Wish, its chairman, who has been managing real estate investments for clients since 1975. Since it was formed in 1996 as the independent new product arm of a 25-year-old real estate investment and development company, Mammoth Equities LLC has grown to include properties owned or under development in California, Arizona and Nevada. Voit Commercial's Alan Pekarcik and Dan Vittone represented the seller in the deal.