How Many Investors are allowed in any one Program?
Tenant in Common (TIC) Programs fall under Revenue Procedure 2002-22 which states that TICs can have no more than 35 investors. On average, TIC programs will be acquired by 20 to 25 investors. TIC programs tend to have higher minimum investment amounts because the investment group is small compared to DST offerings. Delaware Statutory Trust (DST) Programs fall under Revenue Ruling 2004-86 which states that DSTs can have up to 99 investors in any one program. The DST structure will allow for lower minimum investments because more investors are allowed to participate.
