Henrico apartment complex sells for $35M via endangered 1031 exchange
Henrico apartment complex sells for $35M via endangered 1031 exchange Jonathan Spiers photos) While the fate of its business model hangs in the balance of a proposed federal cut to so-called 1031 exchanges, an area real estate firm with a taste for such deals is keeping them coming in the meantime. Capital Square, which built its business on the investment property swaps allowed under Section 1031 of the U.S. Internal Revenue Code, recently unloaded a batch of apartments from its portfolio using a 1031 exchange, through which investors can defer payments of capital gains taxes from one invest...
Source: richmondbizsense.com