1030 Tax-Deferred Exchange | Margate, Florida
Investment analysis and modeling
|PROPERTY SIZE||12,000 SF Retail on 1.43 Acres|
McKinney Advisory Group represented a 1031 tax-deferred exchange investor client in an acquisition of a $2,775,000 property.
McKinney procured a strong, unsolicited offer for a property that client had owned for many years. To shelter their considerable gain on the sale, client needed to conduct a 1031 tax-deferred exchange. For ease of management, client sought a single-tenant, long-term leased triple net property with a high credit tenant. Due to the current market conditions, the property type had become highly sought after and difficult to find.
McKinney has extensive experience, contacts, and market knowledge in investment real estate sales nationwide. McKinney managed to identify 22 properties for consideration. Upon conducting preliminary underwriting of each location, McKinney worked with the client to narrow down their options. After presenting offers for four spaces, Damian McKinney accompanied the client to four different states to visit each prospective space before choosing the optimal property.
The chosen property offered unique value, given that its building and land were part of a larger shopping center. The only issue with the space was that it was in the process of being bifurcated through a pending lot split. McKinney negotiated the contracts under which the client acquired a leased building and ground-leased land upon close of escrow. McKinney also negotiated the completion of the lot split after close of escrow at the seller’s expense.