Our commercial property transactional team secured a 1031 exchange property for our client, a husband and wife, pressured by timelines for completing a 1031 exchange who had 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. Our team 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. Through continued diligence, the transaction was successfully and timely completed.