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 Scioto Properties LLC (SP-V Green)

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emadare



Posts : 12
Join date : 2007-08-23

PostSubject: Scioto Properties LLC (SP-V Green)   Thu Aug 23, 2007 2:12 am

I spoke with the Cherry Hill Township Tax Office (856-488-7899) on 08/15/07 and was informed that the property at 1107 West Valleybrook, Cherry Hill, NJ 08034 was sold to the following entity on 06/29/07 as per the deed:
SP-V Green Properties LLC
5970 Wilcox Place Suite G
Dublin , OH 43016

Very little information is available on the Internet for SP-V Properties. However, I found the following hits when searching on the mailing address:

Foundation For the Challenged
5970 Wilcox Place, Suite G
Dublin, OH 43016-6808
614-923-6020
http://ffcohio.org/
Fran Wessling, Executive Director
fwesseling@ffchousing.org

Scioto Properties LLC
5970 Wilcox Place Suite H
Dublin, OH 43016
800-930-2892
http://www.scioto.com/
David Potts Co-Founder
dpotts@sciotollc.com
Fran Wessling, Vice President Business Development
fkw@scioto.com

Upon calling Foundation For the Challenged on 08/15/07, I was told by Fran Wessling (Executive Director) that she had no knowledge of SP-V Green. I then called Scioto Properties and was told SP-V Green Properties is a subsidiary of Scioto Properties. Scioto has a partnership with the Foundation for the Challenged (http://www.sciotollc.com/socialenterprise.html). Further review of the Scioto website indicates Fran Wessling is also a vice president for Scioto.

Information for Scioto Properties is readily available in the Internet. Scioto ís primary business is to purchase and subsequently lease properties to group home managers. In order to impede public awareness, Scioto utilized a fictional name for the deed. This deceptive practice allows purchase of a property without alarming the neighborhood residents of the intended use. Scioto does not appear to have registered SP-V Green with the State of New Jersey although it is registered in Ohio.
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Admin


Posts : 34
Join date : 2007-08-21

PostSubject: Re: Scioto Properties LLC (SP-V Green)   Thu Aug 23, 2007 6:24 am

Anyone know if you can use a fictional name legally in Cherry Hill Township. It is small items likethis that we must indentify, as these are the loopholes we need to leverage.
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ccross



Posts : 12
Join date : 2007-08-22

PostSubject: Scioto Properties LLC   Mon Aug 27, 2007 12:38 am

Real estate is owned commercially via tiered legal entities such that the benefits of real estate ownership, i.e., mortgage interest deductibility, are passed to individuals. I doubt that Scioto was using a false entity on the deed of sale, rather, SP-V Green is the subsidiary owner of the real estate.
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