Crimson Capital LLC is pleased to announce the successful sale of our Linens N Things property in Toms River New Jersey and the corresponding tax deferred acquisition of two single tenant CVS stores in New York. Crimson purchased the single tenant Linens N Things in January 2003, defeased the current loan, procured a buyer through its extensive investor-broker network, and completed the sale on February 14, 2007. The sale yielded a 46% net profit to each investor in addition to the monthly distributions made over the life of the investment. On May 9, 2007 Crimson used the proceeds from the sale to purchase two CVS stores in Up-State NY. The acquisition was completed within the 1031 Exchange timeframe, thereby deferring all income tax due as a result of the sale. The new properties provide investors with long term stable distributions, which are 52% higher than the previous distributions.
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