The Promote Podcast Exotic Alts (w/ SomeraRoad's Ian Ross) & Taconic's Lab Leak
Dec 17, 2025
Ian Ross, managing partner at SomeraRoad, shares his insights on the burgeoning world of aviation infrastructure, highlighting how recent tax incentives are fueling institutional interest. He discusses the increasing demand for private hangars and the challenges of navigating a fragmented market. The conversation then shifts to Taconic's ambitious yet faltering $2B venture into NYC's life sciences sector, exploring the mismatches between supply and demand, and the hurdles faced in creating a thriving ecosystem. Ross's expertise sheds light on these intriguing real estate niches.
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Tax Law Supercharges Exotic CRE
- The Big Beautiful Bill's return of 100% bonus depreciation is redirecting massive taxable gains into niche CRE like car washes and hangars.
- Buyers can offset year-one taxes heavily because certain assets allow nearly total first-year depreciation.
Car Wash Example Shows Scale Of Tax Shield
- Example: a $5M car wash with a $1M land allocation can yield ~$4M of year-one depreciation.
- Top-bracket investors may see seven-figure federal tax savings, which has driven prices up ~25% in months.
Hangars Offer Exceptional Depreciation Profile
- Aviation hangars qualify uniquely because ground leases remove the typical land carve-out, making more of the asset depreciable.
- Land improvements like ramps also qualify for bonus depreciation, so about half a hangar's value can be written off in year one.