PURCHASE OF COMMERCIAL PROPERTY

Our client, a husband and wife, pressured by timelines for completing a 1031 exchange found and identified their target properties. Their ideal choice involved a nationally known public company as an anchor tenant with a long term lease. The commercial property, though fairly recently developed, had certain environmental issues which needed to be addressed. The funding was also unique for the buyers. We guided our clients through the negotiations of the purchase agreement , the securitized loan documentation, and the creation of separate single purpose entities preserving their 1031 exchange. We're happy to report that the transaction was successfully and timely completed.