As many of you know, DBSI hosted meetings with current DBSI TIC Investors with ownership interests in DBSI Master Lease or NNN Plus® Lease properties in Boise, ID during the week of December 15th. Many owners took advantage of this face-to-face meeting in which the agenda included many critical issues including:
• Q&A - Lease Alternatives (Amend, Assign, or Reject)
• Information on the Bidders for Amended Leases and Asset Managers
• Property Specific Concerns and Strategies
• Conversation with the Asset Managers
• General Q&A
As you also know, on December 19, 2008, DBSI filed with the Bankruptcy Court a request to approve comprehensive sale procedures that were formulated by DBSI in consultation with the Official Committee of Unsecured Creditors and its professionals. The hearing to consider approval of the sale procedures motion is scheduled for January 7, 2009. In order to facilitate the sale process, if approved, the hearing date for the pending motions to, among other things, reject the master leases has been pushed back to February 4th, 2009 (with a January 26, 2009 deadline for TIC Investors to opt out of the sales process and elect among certain alternatives described in the recent filing with the Bankruptcy Court).
Based on the positive feedback we received from the prior meetings, we have decided to host another round each day between January 12-16th, 2009(10am to 2pm or later as needed)in Boise. The meetings are intended to be informative providing TIC owners with a comprehensive overview of the various issues and explanation of the alternatives made available to the TIC Investors through the proposed sale process. The potential benefits of attending one of these meetings include:
• Your Lease Alternatives Explained
• Getting to Know the Companies Bidding for the Amended Leases
• Comprehensive Overview of Your Property and Short-Term Expectations
Simply put, we believe that your individual participation will allow your TIC ownership group to make a more informed collective decision regarding your Lease alternatives and your participation and role in the proposed sale process.
These meetings are intended for business representatives and not legal counsel. If you are represented by counsel, you should consult with your counsel before deciding to attend a meeting. Financial advisors to the Official Creditors' Committee and the chief restructuring officer of DBSI are invited and expected to attend.
Please indicate your preferred date with us by emailing us at Investorrequests@dbsi.com and reserve a day between January 12th – 16th, 2009. And, if for some reason these dates do not work for you, please email us a date and time for us to consider.
