TAMPA, FL—A 1031 exchange buyer snapped up a Krystal restaurant in Bradenton, FL. Calkain Companies associate Emily Cusmano represented the buyer.
“When handling a 1031 transaction for a buyer, the key is finding an excellent investment property while working within the exchange deadline,” she says. Once the property was identified, Calkain provided due diligence and transaction support services to keep the buyer was updated throughout the process.
According to Cusmano, the transaction went smoothly. The deal adhered to the 1031 exchange guidelines in order to be compliant with the tax code.
“Keeping this in mind for this transaction, we took the necessary steps to locate a replacement property for our client that fit all their investment criteria,” she says. “The buyer was very pleased we found a well located property with a brand new 15-year corporate backed lease, especially in today's competitive net lease market."
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