Tuesday, November 18, 2008
To all Non TIC Members -11-18-08
This message is intended for Note Holders, Land Owners, Fund Members and Limited Partners. At this time DBSI is working through the Bankruptcy courts to address the most pressing items. As such, we are currently focused on working with Tenant In Common owners of income producing properties. We understand your anxiousness in wanting answers regarding your investment. We expect to begin providing specific information within the next few weeks. Thank you for your patience.
Friday, November 14, 2008
MOVING FORWARD
DBSI commenced a voluntary Chapter 11 proceeding on November 10, 2008.
It’s important to note that DBSI is operating in the ordinary course of business while under the protection granted by Chapter 11. We remain committed to providing you with information and keeping our lines of communication open.
As such, please note the important and most efficient process for information dissemination forward:
1. The most up to date information can be found on this Blog page. http://blog.dbsi.com; Please visit this page often.
2. Should the information posted on the blog page not address your particular question, please continue to submit your question to investor services at investorservices@dbsi.com
3. It’s important to note that in most cases we cannot respond to your emails directly given our reduced staff and limitations but rather we will post as much information and as many answers to your questions as quickly as possible by continuing to update and add to our Frequently Asked Questions (FAQ) document located on our Blog page. (Upper right hand corner)
4. As the amount of information on our Blog page grows, finding what you are looking for may become more difficult. Please make sure to utilize the search function located in the upper left hand corner of the Blog page. Simply enter a key word and click “search Blog”.
Many of our investor’s properties are now incorporated in the bankruptcy process and therefore, future decisions and direction will now come through the process of the bankruptcy courts and not DBSI. As a result, there will be many property specific and investment specific questions that we are unable to answer at this time. These questions included such items as past or future distributions, lender actions and the future strategy of your property. However, as soon as this information does become available, DBSI and others will work to notify you accordingly. Most likely any information from DBSI from this point forward will be shared with you via email or your property/investment specific website.
It’s important to note that DBSI is operating in the ordinary course of business while under the protection granted by Chapter 11. We remain committed to providing you with information and keeping our lines of communication open.
As such, please note the important and most efficient process for information dissemination forward:
1. The most up to date information can be found on this Blog page. http://blog.dbsi.com; Please visit this page often.
2. Should the information posted on the blog page not address your particular question, please continue to submit your question to investor services at investorservices@dbsi.com
3. It’s important to note that in most cases we cannot respond to your emails directly given our reduced staff and limitations but rather we will post as much information and as many answers to your questions as quickly as possible by continuing to update and add to our Frequently Asked Questions (FAQ) document located on our Blog page. (Upper right hand corner)
4. As the amount of information on our Blog page grows, finding what you are looking for may become more difficult. Please make sure to utilize the search function located in the upper left hand corner of the Blog page. Simply enter a key word and click “search Blog”.
Many of our investor’s properties are now incorporated in the bankruptcy process and therefore, future decisions and direction will now come through the process of the bankruptcy courts and not DBSI. As a result, there will be many property specific and investment specific questions that we are unable to answer at this time. These questions included such items as past or future distributions, lender actions and the future strategy of your property. However, as soon as this information does become available, DBSI and others will work to notify you accordingly. Most likely any information from DBSI from this point forward will be shared with you via email or your property/investment specific website.
Tuesday, November 11, 2008
Master Lease / NNN Plus Lease TIC Owner Announcement 11-11- 08
DBSI is awaiting further instructions from the Bankruptcy Court regarding the go-forward strategy of your property and we will have additional information posted by the end of this week. All properties of this category have been included in the voluntary chapter 11 filing by DBSI. The protection of Chapter 11 is in place which will allow the day-to-day operations of your property to continue. Simply put, your property will continue to receive full attention from Asset Management Services LLC while incorporated into the Chapter 11 filing. In this instance, the Chapter 11 bankruptcy means we will be communicating to you very soon as to the go-forward strategy of your property. Unfortunately, in the meantime, your options are limited with regards to the short-term operations of your property.
We have recommended that each property ownership group select a group representative or leader to better facilitate the organization and timeliness of information from Asset Management Services LLC to each property ownership group. In order to ensure that we have correct information on file, if you have not done so already, we ask that this representative / leader send their contact information to DBSI using the following email address: groupleaders@dbsi.com. Please include the following:
• Property Name
• Your Name
• Telephone Number (include all numbers)
• Email address
We have received this information from a majority of the properties. If you are a property representative / leader and have not yet done so, please forward this information as soon as possible. You will be contacted shortly thereafter by phone. Please note, in order to be a group leader you must (1) be a property owner and (2) be selected by your property ownership group.
We know that contact information has been posted online for many of the AMS Asset Managers and that many investors have tried to contact them individually. PLEASE NOTE: If you are not a Group Representative, please do not contact the Asset Manager. Please submit your requests or questions to your Group Representative who can facilitate the dialogue with the Asset Manager and will provide responses back to the group of owners. This will enable a more efficient flow of information across all owners and property groups.
If you are not a group leader and wish to contact DBSI, please email us at investorservices@dbsi.com
We have recommended that each property ownership group select a group representative or leader to better facilitate the organization and timeliness of information from Asset Management Services LLC to each property ownership group. In order to ensure that we have correct information on file, if you have not done so already, we ask that this representative / leader send their contact information to DBSI using the following email address: groupleaders@dbsi.com. Please include the following:
• Property Name
• Your Name
• Telephone Number (include all numbers)
• Email address
We have received this information from a majority of the properties. If you are a property representative / leader and have not yet done so, please forward this information as soon as possible. You will be contacted shortly thereafter by phone. Please note, in order to be a group leader you must (1) be a property owner and (2) be selected by your property ownership group.
We know that contact information has been posted online for many of the AMS Asset Managers and that many investors have tried to contact them individually. PLEASE NOTE: If you are not a Group Representative, please do not contact the Asset Manager. Please submit your requests or questions to your Group Representative who can facilitate the dialogue with the Asset Manager and will provide responses back to the group of owners. This will enable a more efficient flow of information across all owners and property groups.
If you are not a group leader and wish to contact DBSI, please email us at investorservices@dbsi.com
Monday, November 10, 2008
FOR IMMEDIATE RELEASE:
DBSI Commences Voluntary Chapter 11 Bankruptcy Proceeding
Boise, Idaho – November 10, 2008 - DBSI Inc, which together with its subsidiaries comprises a network of real estate and non-real estate entities throughout the country, commenced a voluntary chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware on November 10, 2008.
DBSI's businesses have been significantly impacted by the recent turmoil in the real estate financial and credit markets, the general deterioration of the economy and the historic declines in the stock market. These problems were exacerbated recently by the actions of the various parties and, in the last week, the commencement of legal actions that DBSI submits are without merit and only serve to impede DBSI’s efforts to effectively address its financial difficulties.
As a result of these circumstances, DBSI determined that it had no alternative but to commence a voluntary chapter 11 proceeding in order to implement its plan for an orderly restructuring to maximize value for all parties-in-interest and to immediately stay the efforts of parties desiring to pursue their own individual interests.
"We are hopeful that we will receive the cooperation of our critical creditor constituencies to permit DBSI the opportunity to complete an orderly restructuring that we believe will provide maximum value for all," said Doug Swenson, President and Chief Executive Officer of DBSI.
Boise, Idaho – November 10, 2008 - DBSI Inc, which together with its subsidiaries comprises a network of real estate and non-real estate entities throughout the country, commenced a voluntary chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware on November 10, 2008.
DBSI's businesses have been significantly impacted by the recent turmoil in the real estate financial and credit markets, the general deterioration of the economy and the historic declines in the stock market. These problems were exacerbated recently by the actions of the various parties and, in the last week, the commencement of legal actions that DBSI submits are without merit and only serve to impede DBSI’s efforts to effectively address its financial difficulties.
As a result of these circumstances, DBSI determined that it had no alternative but to commence a voluntary chapter 11 proceeding in order to implement its plan for an orderly restructuring to maximize value for all parties-in-interest and to immediately stay the efforts of parties desiring to pursue their own individual interests.
"We are hopeful that we will receive the cooperation of our critical creditor constituencies to permit DBSI the opportunity to complete an orderly restructuring that we believe will provide maximum value for all," said Doug Swenson, President and Chief Executive Officer of DBSI.
Friday, November 7, 2008
Coming Soon - SharePoint Websites for Land Banking / Land Option Investments – 11-07-08
Investors in Master Leased properties should also check their Sharepoint Sites often as information is added regularly.
Wednesday, November 5, 2008
SharePoint Website Activity Update – 11-05-08
DBSI has now created and launched secure, property-specific websites (SharePoint) for investors in all Master Lease / NNN Plus Leased TIC properties. Login information was emailed this afternoon to investors with email addresses on record. This information was also sent via U.S. Postal Service. Prior posts on this blog include additional details of what is included on these websites, as well as a troubleshooting guide if you have difficulty logging in. If for example, you have more than one property, you will need to click “sign in as a different user” and then enter your property specific username and password to view separate property information each time. Please also remember to add “DDRS\” to the beginning of your username. Example: DDRS\YourBuildingAsset (Please note the usernames and passwords are CaSe sensitive).
This blog will continue to be updated regularly with general DBSI updates. The secure, property-specific websites will be updated with property-specific information and will provide investors with pertinent information. As such, we encourage you to revisit both the blog and property websites often.
This blog will continue to be updated regularly with general DBSI updates. The secure, property-specific websites will be updated with property-specific information and will provide investors with pertinent information. As such, we encourage you to revisit both the blog and property websites often.
Tuesday, November 4, 2008
Sharepoint Website Activity Update for Master Lease / NNN Plus Lease TIC Investors - 11-04-08
If you have not already received login instructions, DBSI will be implementing secure, property-specific websites for all remaining Master Leased / NNN Plus Leased TIC investors. This secure website will include:
• Rent Roll
• Operating Statements
• Investor List and Contact Information
• TIC Agreement
• Debt service payments
• Other information
You will be receiving secure login-information shortly with instructions to access this website. We encourage you to revisit this site often.
• Rent Roll
• Operating Statements
• Investor List and Contact Information
• TIC Agreement
• Debt service payments
• Other information
You will be receiving secure login-information shortly with instructions to access this website. We encourage you to revisit this site often.
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