Option E Liquidation Tracker
Tax Arbitrage Strategy · Target Close December 2026
Positions to Sell
9
7 LP · 2 Direct
Closed
0 / 9
not started
Proceeds Range
$918K–$1.34M
Min $918K → Target $1.34M
Overall Progress
0%
I
Model Assumptions
Rental Properties
Sandy Brook Sale Price$316,000
Sandy Brook Debt$195,000
Sandy Brook Basis (1031)$112,380
Rambollet Sale Price$434,000
Rambollet Debt$272,500
Rambollet Basis (1031)$164,600
Combined Taxable Gain$473,020
Syndicated LP Pricing Strategy
Covenant Crossing Cost$375,000
→ Target (List @ 60%)$225,000
→ Minimum (Walk @ 30%)$112,500
District at Midtown Cost$225,000
→ Target (List @ 60%)$135,000
→ Minimum (Walk @ 25%)$56,250
Tax Scenarios
Rental Gain (gross)+$473,020
@ Target ($360K LP)−$240K loss
→ Net Taxable / Tax$233K / ~$55K
@ Minimum ($169K LP)−$431K loss
→ Net Taxable / Tax$42K / ~$10K
ATS Return Projections
Expected Annual Return32.2%
Bull Case (25% prob)52%
Base Case (55% prob)32%
Bear Case (20% prob)8%
Covered Call Yield12–24%
⚑
Critical Decision Gates
MAR 31, 2026
Bid Review Gate
Secondary bids received. List @ Target, accept if ≥ Minimum.
MAY 31, 2026
Hard Abort Date
No LOI secured → Default to Option B (rentals only).
DEC 15, 2026
Tax Year Deadline
All sales must close for same-year tax treatment.
II
LP Transfer Process Reference
| Step | Action | Owner | Duration |
|---|---|---|---|
| 01 | Review Operating Agreement transfer provisions | You | 1–2 days |
| 02 | Send sponsor inquiry letter | You | 1 day |
| 03 | Receive sponsor transfer procedures | Sponsor | 1–2 weeks |
| 04 | Contact secondary platforms (LODAS, Setter) | You | 1 week |
| 05 | Receive indicative bids | Platforms | 2–4 weeks |
| 06 | Negotiate and accept LOI | You | 1–2 weeks |
| 07 | Submit transfer request to sponsor | You | 1 day |
| 08 | ROFR period (sponsor/LP exercise rights) | Sponsor | 30–60 days |
| 09 | Buyer due diligence & legal review | Buyer | 2–4 weeks |
| 10 | Execute Assignment Agreement & close | All | 1–2 weeks |
III
Position Tracker
| Task |
VA Clinic
LP #1
T:$136K / M:$85K
|
Sandy Brook
Direct #2
List:$325K
|
Rambollet
Direct #3
List:$475K
|
Covenant
LP #4
T:$225K / M:$112K
|
Southgate
LP #5
T:$60K / M:$20K
|
Westpark
LP #6
T:$45K / M:$15K
|
High Meadow
LP #7
T:$30K / M:$10K
|
Midtown
LP #8
T:$135K / M:$56K
|
Dodson
LP #9
T:$30K / M:$0
|
|---|---|---|---|---|---|---|---|---|---|
| Progress | 0/13 |
0/9 |
0/9 |
0/13 |
0/13 |
0/13 |
0/13 |
0/13 |
0/13 |
| Notes | |||||||||
| Phase 0: Groundwork — February 2026 | |||||||||
| Review Operating Agreement | N/A | N/A | |||||||
| Send Sponsor Inquiry | N/A | N/A | |||||||
| Receive Transfer Procedures | N/A | N/A | |||||||
| Contact Secondary Platforms | N/A | N/A | |||||||
| Receive Indicative Bids | N/A | N/A | |||||||
| Phase 1: Launch — March–April 2026 | |||||||||
| Accept LOI (≥ Min price) | N/A | N/A | |||||||
| Submit Transfer Request | N/A | N/A | |||||||
| Prepare Listing Materials | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||
| List Property | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||
| Phase 2: Execution — May–September 2026 | |||||||||
| ROFR Period Complete | N/A | N/A | |||||||
| Buyer Due Diligence | |||||||||
| Accept Offer / Approval | |||||||||
| Under Contract | |||||||||
| Phase 3: Close — October–December 2026 | |||||||||
| Closing Scheduled | |||||||||
| Closed | |||||||||
| Proceeds Received | |||||||||
| Deployed to ATS | |||||||||