PEAK 1031 EXCHANGE INC. ANNOUNCES RECORD FIRST QUARTER IN COMPLETED TRANSACTIONS
Released via PRWeb April 29, 2015
Kevin M. Levine, EVP of Peak 1031 Exchange Inc. Announces Record First Quarter in Completed Transactions Involving Multifamily and Commercial Properties
Southern California-based qualified intermediary firm enjoys spike in activity resulting from a surge of activity in the commercial real estate arena.
“Investors are finding safe harbor in the 1031 exchange process as a means to defer capital gains taxes,” states Kevin M. Levine, Executive Vice President of Peak 1031 Exchange Inc., a leading national provider of tax-deferred 1031 exchange services. “As economic conditions continue to favor commercial real estate investors, we have experienced a two-year high in a variety of like-kind exchange options to offset potential capital tax liabilities that eventually erode returns.”
“Fundamentals driving the commercial real estate sector continue to outperform previous quarters, and as a result, more investors are looking for ways to manage the growing pains associated with strong returns,” states Levine in reference to increased tax liability associated with gains from the sale of commercial real estate properties in the Southern California market. Levine cites a recent 2015 report from Deloitte Center for Financial Services reporting lower cap and vacancy rates in both multifamily and office asset types as factors pointing to a strong market, along with a dramatic decrease in days on market indicating robust activity. The data suggests that investors have become more aggressive in pursuing acquisition strategies, a trend that has the momentum to continue through the rest of 2015. “We’re finding that our clientele are in the investment game for the long haul and are constantly on the lookout for new opportunities. For this type of investor, it’s crucial that a tax-deferral strategy be in place for the long term. The 1031 exchange equips investors with the confidence they need to pursue new deals knowing that potential tax liability issues can be mitigated.”