READ the United Realty Trust 10Q filed on 8-14-15 on page 15, (or section 12) which Frydman shows how he STOLE ONE MILLION FOUR HUNDRED and EIGHTY NINE THOUSAND DOLLARS.
The broker conned into this transaction was from John Arthur Doane [url]http://www.detwilerfenton.com/[/url]Prior to Acquisition Closing, we had advanced $550,000 in cash, or the Initial Deposit, to United Realty Funds Management, LLC, or Funds Management, an entity wholly owned and controlled by Jacob Frydman, our chairman and chief executive officer, to allow it to make a deposit required by the purchase and sale agreement entered into on April 13, 2015, or the PSA, between Highwoods Realty Limited Partnership, or the Highwoods Seller, and Funds Management pursuant to which Funds Management had the right to acquire the property located at 799 Hanes Mall Boulevard, Winston-Salem, NC, or the Hanes Property, for $15.3 million. On July 23, 2015, Funds Management assigned its rights and obligations under the PSA to UR Hanes, DST, or Hanes DST, a Delaware statutory trust sponsored and controlled by Funds Management, such that Hanes DST would pay $16.3 million for the Hanes Property. The $1.0 million difference between the purchase price for Funds Management and Hanes DST represents the $1.0 million fee for assigning Hanes DST its rights and obligations under the PSA that Funds Management is entitled to receive in connection with the transaction that has not yet been paid, or the Assignment Fee. The Assignment Fee will be fully earned and payable by Hanes DST at the Acquisition Closing. In addition, an acquisition fee of $489,000 will be due to Funds Management at the Acquisition Closing.
DONT FORGET YOU HAVE BEEN FOREWARNED ABOUT JACOB FRYDMAN - DO YOUR HOMEWORK, LOOK AT THE HUNDREDS OF LAWSUITS AGAINST HIM RELATED TO FRAUD